Most Powerful Women in Finance: Yie-Hsin Hung, New York Life Investment Management
As the chief executive of New York Life Investment Management since 2015, Yie-Hsin Hung has been a steadfast advocate for underserved segments of the investing community. She helped initiate a large-scale study on how to encourage women to become investors and participated in a host of CEO leadership events, including Bloomberg's Helping Women Achieve Financial Stature summit.
Meanwhile, Hung's efforts in fostering a diverse and inclusive culture with New York Life Investment Management helped its parent company, New York Life Insurance Co., earn the No. 1 ranking for Latina Style's 50 Best Companies for Latinas last year and a top 10 workplace for multicultural women as ranked by Working Mother.
The business Hung oversees continues to generate strong returns. Last year, assets under management climbed to $352 billion, a 17% improvement from 2018. This year the investment arm is expected to contribute more than it ever has before to New York Life's $1.9 billion dividend.
Hung also led a successful initiative last year to align several of New York Life's boutiques into an integrated organization, New York Life Investments Alternatives, creating new opportunities for the group to capitalize on its financial strength. Simultaneously, through a series of high-profile acquisitions, she positioned the investment management unit for growth in many of the most dynamic areas of the business, most notably solidifying its international positions in alternative investments.
Outside of the office, Hung is active with the Chinese-American Planning Council, a New York nonprofit promoting economic empowerment for immigrant and low-income communities, and in February was named the group's Honoree of the Year. Recently she was also invited to join the board of trustees at Northwestern University.