|
|
Article: N.Y. Life Sees Opening in Defined Contribution Line.(New York Life Insurance Co.)
- Article from:
- American Banker
- Article date:
- November 9, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Steve Garmhausen
Despite the financial services industry's downsizing, New York Life Investments is building up a sales force to target the defined contribution market.
The unit of New York Life Insurance Co. says it plans to hire a regional sales staff - three regional vice presidents and an internal sales representative - in the next few weeks for its defined contribution investment-only business.
The sales team's expansion, along with the introduction of two products targeted to the defined contribution investment-only market, could lift New York Life Investments' assets under management, said Jeff Keller, managing director of its ...