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New York Life Investment Management appoints new leadership team at IndexIQ

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New York Life Investment Management (NYLIM) has named a new leadership team at IndexIQ, NYLIM’s global ETF business.

Jon Zimmerman, currently the head of ETF product development at NYLIM, has been named IndexIQ’s chief operating officer, a newly created role. Mr. Zimmerman, along with IndexIQ’s current chief investment officer, Sal Bruno, will now report to Kirk Lehneis, who oversees NYLIM’s mutual fund and ETF operations and serves as NYLIM’s chief operating officer. 
 
These changes, which are effective immediately, are part of a planned, post-acquisition leadership transition for IndexIQ, which was acquired by NYLIM in 2014. Adam Patti and David Fogel, who founded the business and have been serving as CEO and president of IndexIQ, respectively, will step down to serve as senior advisors, reporting directly to Lehneis.
 
Lehneis says: “We are confident that Jon and Sal possess the leadership and management capabilities needed to propel IndexIQ into its next phase of growth. The business is in a strong position, with growing assets and innovative new products that leverage the insights and expertise of our world class family of investment boutiques. We expect that Jon and Sal will help accelerate the expansion of this business as we further align our U.S retail offerings. We congratulate them on their new roles.” 
 
Patti adds: “As David and I move into our new roles and on to new challenges later this year, we are confident that the business we founded, and have grown significantly with NYLIM’s partnership and support, is well positioned for future success. Most importantly, we have the utmost faith and confidence in the new leadership now in place, who share our commitment to innovation and will continue to enhance the value IndexIQ delivers to its investors. We look forward to seeing what the team at IndexIQ achieves next.
 
“We thank Adam and David for their leadership and partnership these last three years. They have built a growing and successful business, and we have appreciated their guidance as we’ve integrated IndexIQ into NYLIM, and brought its offerings to more investors. Jon, Sal and I will benefit from their counsel in the months ahead, as they plan their next endeavours.” 

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