New York Life Picks New CEO for $371B Investment Management Unit
He is set to take over as NYLIM’s CEO May 1.
NYLIM
NYLIM has operations in Europe, Asia and Australia, along with the MainStay Funds mutual fund and ETF operations in the United States.
In addition to Candriam, major subsidiaries include MacKay Shields, IndexIQ Advisors, Apogem Capital and Ausbil Investment Management.
A Defense of ESG Strategies
In 2017, under Abou-Jaoudé’s leadership, Candriam started a training program for financial professionals who are interested in socially conscious investing.
In 2019, the company started an actively managed fund that invests in companies that are trying to prevent, manage and respond to climate change.
Two weeks ago, while he was at the World Economic Forum in Davos, Switzerland, Abou-Jaoudé urged other financial executives to think about the “pivotal role that ESG plays for our society.”
“The added value of truly sustainable investing in supporting the transition, while offering investors exposure to new long-term growth opportunities, should be the best defense against the current wave of criticism of ESG,” he wrote in a post on LinkedIn.
Candriam
New York Life has named Vincent Hamelink, Candriam’s chief investment officer, to succeed Abou-Jaoudé as CEO of Candriam. Renato Guerriero, the chief sales and distribution officer, will become Candriam’s deputy CEO.
Pictured: Naïm Abou-Jaoudé. (Photo: New York Life)
