New York Life Investments announced Tuesday that it had hired John C. Siciliano to be a senior managing director and head of its investment boutiques.

He is responsible for all activities of the company's external asset management business, including the operations and activities of its five external asset managers: Madison Square Investors LLC, MacKay Shields LLC, McMorgan & Co. LLC, New York Life Capital Partners LLC, and Institutional Capital LLC.

In this newly established role, Mr. Siciliano is to report directly to John Kim, the president and chief executive officer of New York Life Investments.

Mr. Siciliano was a managing partner at Grail Partners LLC, a merchant banking firm that invests and advises on asset management and related financial technology businesses.

New York Life Investments, a unit of New York Life Insurance Co., had $239 billion of assets under management at Sept. 30.

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