Article: N.Y. Life Sees Opening in Defined Contribution Line.(New York Life Insurance Co.)

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 ...

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