MainStay Management, the mutual fund business of New York Life Insurance Co., has hired a senior vice president to oversee the growth of assets under management and to increase its market share.

Marc Brookman, 34, was national sales director at United Asset Management. He will report to Stephen C. Roussin, president and chief executive of MainStay Management. The Parsippany, N.J.-based company announced the hire Dec. 14.

Mr. Brookman will oversee the MainStay Funds retail retirement plans and the development of new retail distribution for MainStay Institutional Funds. He will also lead MainStay product development.

The MainStay family of retail and institutional funds consists of 33 funds with $17 billion of assets. MainStay funds are distributed through another New York Life unit, NYLife Distributors Inc.

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