New York Life, one of the largest life insurers in the United States, has appointed Naïm Abou-Jaoudé as Chief Executive Officer of New York Life Investment Management (NYLIM), effective May 1. Abou-Jaoudé is currently the Chief Executive Officer (CEO) of Candriam, a $149 billion global wealth manager with operations in 20 countries and one of New York Life’s largest affiliates. He is also Chairman of New York Life Investment Management International, a division of NYLIM.
Abou-Jaoudé will oversee NYLIM’s global multi-boutique business, with offices in the US, UK, Europe, Asia and Australia, as well as its diversified US mutual fund and mutual fund platforms ETFs be responsible and report to Alain Karaoglan, Head of Strategic Businesses at New York Life.
Over the past decade, NYLIM has grown its assets under management to $371 billion through a combination of geographic expansion, organic initiatives and acquisitions. Today, NYLIM’s international business accounts for 45 percent of total assets under management.
Candriam’s Chief Investment Officer Vincent Hamelink will succeed Abou-Jaoudé. Renato Guerriero, Chief Sales and Distribution Officer, will serve as Deputy CEO, Global Development and Distribution effective May 1, 2023. At that time, Abou-Jaoudé will become Chairman of the Board of Directors of Candriam.
Candriam, formerly Dexia Asset Management, was acquired and rebranded by New York Life in 2014. “Our new name, Candriam, is the abbreviation of our corporate values: ‘Conviction and Responsibility in Asset Management,'” explained Abou-Jaoudé, who had been with Dexia since 1999, at the time. Before that, he was at UBS.
