New York Life, America’s largest mutual life insurer, has named Naïm Abou-Jaoudé as chief executive officer of New York Life Investment Management. Vincent Hamelink (photo), Candriam chief investment officer, will succeed Abou-Jaoudé as CEO of Candriam.
Renato Guerriero, chief sales and distribution officer, will serve as Candriam’s Deputy CEO in charge of global development and distribution. Both appointments are effective from May 1. At that time, Abou-Jaoudé will transition to chair of the board of directors at Candriam.
Abou-Jaoudé is currently the CEO of Candriam, a global multi-specialist asset manager with 149 billion dollars in assets under management, active in 20 countries, and one of New York Life’s largest investment subsidiaries. He will report to Alain Karaoglan, head of the strategic businesses at New York Life.
16 years at Candriam
Following a 30-year career in investment management, including 16 years as the CEO of Candriam, he will be responsible for New York Life’s global multi-boutique operation, with offices in the U.S., U.K., Europe (including Luxembourg), Asia, and Australia, and its diversified U.S. mutual fund and ETF operating platforms.
“Naïm is an accomplished leader in the global investment management industry with a strong track record of achievements as CEO of Candriam. I am very confident in the leadership and vision that he will bring to NYLIM in the years to come,” said Craig DeSanto, CEO and president at New York Life, in a statement..
Over the past decade, New York Life Investment Management, or Nylim, has seen its assets under management more than double to 371 billion dollars through a combination of geographic expansions, organic initiatives, and acquisitions. Today, Nylim’s international business represents 45 percent of total assets under management.
“Candriam is one of the fastest-growing asset managers in Europe, a success story we’re very proud to share, doubling assets under management since Candriam was acquired. I have full confidence that under Naïm’s direction, NYLIM including Candriam will continue on their growth trajectories,” said Alain Karaoglan.
Family
“I am honored to lead Nylim as its CEO,” said Naïm Abou-Jaoudé. “I have been part of the New York Life family for almost a decade and during this time I have witnessed a firm that demonstrates the finest principles of asset management. I am confident we will continue to deliver significant long-term value to all our stakeholders.”
«I am immensely proud to pass Candriam’s leadership to Vincent Hamelink and Renato Guerriero, who have been instrumental in the company’s growth, developing an investment platform that has consistently delivered long-term returns to investors and accelerating demand for the Candriam brand. I look forward to Candriam’s continued success under their leadership,” added Abou-Jaoudé.
Vincent Hamelink said: “I have worked with Naïm for over 20 years, developing Candriam’s business and investment platform that is today known for its high performing fund management capabilities and innovative investment solutions. It is a privilege to take over the role of CEO and I am confident that we will continue to deliver significant value to our clients, shareholder, and all our stakeholders.”
Largest in US mutual life insurance
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies..
Candriam stands for “Conviction AND Responsibility In Asset Management” and is a European multi-specialist asset manager. A pioneer and leader in sustainable investments since 1996, Candriam has a team of more than 600 professionals and operates management offices in Luxembourg, Brussels, Paris, and London, with client representatives in more than 20 countries throughout continental Europe, the United Kingdom, the United States, and the Middle East. Candriam offers investment solutions in several key areas: bonds, equities, absolute performance strategies, and asset allocation, with a broad and innovative range of ESG strategies covering all its asset classes.
New York Life Investments ranks among the world’s largest asset managers.
Related articles on Investment Officer Luxembourg:
- Top 5: Candriam leads EM local currency bond funds
- Candriam launches Circular Economy Fund
- Naïm Abou-Jaoudé : «L’ISR se développe désormais plus vite en Belgique qu’aux Pays-Bas»