The defined contribution unit of New York Life, the largest mutual life insurer in the U.S., plans to hire a regional sales staff in the next few weeks. The expansion will include three regional vice presidents and an internal sales representative, Jeff Keller, managing director of its defined contribution investment-only group, told American Banker.
The five-year-old unit devoted to defined-contribution investments is currently comprised of three workers who are based in Parsippany, N.J. The bolstered sales team will be expected to sell the company's MainStay mutual funds and other investment vehicles from New York Life.
The expansion comes days after the company named Tom Johnson as head of business development for retirement income security, a newly created position. The company news release said Johnson's role to oversee the business development of retirement income security products will have an emphasis on defined contribution plans and 401(k) rollover options. Johnson was senior vice president of retirement income and strategic business development at Mass Mutual.
---
For tips, questions and comments, contact us here.
To get the latest news on opportunities, layoffs and major events in the finance career space, follow FINSider on Twitter.