New York Life Investment Management LLC said it will promote Osbert Hood to chief executive officer of the New York Life Insurance Co. unit's investment management subsidiary, MacKay Shields LLC.
Processing Content
He will start his new job July 1 and will succeed Ravi Akhoury, who will remain with the company as MacKay Shields' chairman and a member of New York Life Insurance's executive management committee.
Mr. Hood joined MacKay Shields in January in the newly created position of president. Previously he had been the CEO of Pioneer Investment Management USA Inc.
MacKay Shields, which announced the promotion last week, had $40 billion of assets under management as of April 30. New York Life Investment Management had $243 billion.
