June 5, 2006
NYLIM Selects Murdock As Chief Executive Officer
New York Life Investment Management has promoted Brian A. Murdock to chief executive officer, succeeding Gary Wendlandt, who has also been promoted, to senior vice president of NYLIM's parent company, New York Life Insurance. However, Wendlandt will still be NYLIM chairman.
Murdock joined NYLIM in 2004 as president, in charge of guaranteed products, retirement plan services, retail investments and a number of support units. He previously was chief operating office for Merrill Lynch Investment Managers, where his 25-year career also included serving as chairman of Merrill Lynch's Pacific region, as chief investment officer for Europe and the Pacific and as senior vice president and chief investment officer of high-net-worth accounts. He joined the firm as a securities and commodities broker, quickly working his way up to equity portfolio manager.
Wendlandt joined New York Life as executive vice president in 1999 from Massachusetts Mutual Life Insurance, where he worked for 17 years, most recently as executive vice president and chief investment officer. In his first job with New York Life, he was responsible for establishing the NYLIM subsidiary.
"Gary and Brian have achieved superb results at our investment management subsidiary, with the operation now surpassing $200 billion in assets under management," noted Sy Sternberg, chairman of the board and CEO of New York Life Insurance. "Brian's promotion to chief executive of the operation is well deserved, and we look for many more contributions from him in the years ahead, [while] Gary will be taking on more responsibilities at the parent in the areas of investment and finance."
Polaris Taps Weisker as Relationship Manager
Global and international value equity manager Polaris Capital Management, which serves both the retail and institutional markets, has hired Kristin Weisker as a relationship manager, responsible for client service and business development. Weisker, who has 18 years of experience, comes to Polaris from Fidelity Management Trust Co., where she also served as a relationship manager, focused on the institutional consulting community. Before that, she worked as a client service relationship manager at ValueQuest/TA.
Weisker has a long history of working with Polaris President Bernard R. Horn, Jr. The two first worked together in 1988, when Weisker joined Horn & Co. and again from 1990 to 1992 at Freedom Capital.
"I couldn't pass up the offer to join Polaris Capital Management, as I have watched the firm flourish under Bernie's direction for the past 10 years," Weisker commented. "I am looking forward to working with Bernie again, as well as the Polaris Capital clients, with whom I worked in the past."
Hebner Becomes Strategist For Third Wave Global
Third Wave Global Investors has hired Kevin J. Hebner as global investment strategist. Hebner previously served as chief investment officer, Tokyo, for Credit Suisse Asset Management, and before that, as global investment strategist for Citigroup Asset Management, Tokyo. He has also taught at the college level, including as a visiting professor at Kyoto University.
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