New York Life Insurance Co. announced Wednesday that Paul Pasteris had joined it as senior vice president in charge of retirement income, a newly created post.
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Mr. Pasteris is to direct New York Life's retirement income business, which sells products and services to help people maintain a steady stream of income.
He joined New York Life after 17 years at Massachusetts Mutual Life Insurance Co. in Springfield, Mass. For the past two years, he was president of MassMutual's financial products division.
New York Life's retirement income business includes products such as the LifeStages Lifetime Income Annuity. Its sales grew 154% in 2004, and it was recently enhanced with a feature to add longevity protection.
