New York Life Insurance Co. has named Dennis O'Brien the head of its long-term care division.
Mr. O'Brien, whose promotion was announced Monday, joined the division in 1996 as a corporate vice president and actuary. He was promoted to vice president and actuary in 1999 and to first vice president and actuary in 2004.
Fixed-Income Fund from Morgan Stanley
Morgan Stanley Investment Management launched a fund that will invest primarily in a mix of dollar-denominated, investment-grade, fixed-income issues, particularly U.S. government, corporate, and mortgage-backed securities.
The primary objective of the Morgan Stanley Institutional Fund Trust Long-Duration Fixed-Income Portfolio, launched Monday, is to offer pension plans, endowments, and foundations the opportunity to match the duration of their plan assets more closely with their liabilities, the Morgan Stanley unit said.
The unit had $440 billion of assets under management and supervision as of May 31.
