John Y. Kim, an executive vice president of New York Life Insurance Co., is to succeed Gary Wendlandt as chairman of its investments unit on Jan. 1.

Wendlandt is retiring at the end of December after nearly 40 years in the industry. Kim is the president and CEO of New York Life Investments, which has more than $275 billion of assets under management; he is to be chairman and CEO of the investments unit. The president title will no longer be used.

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