American mutual life insurer New York Life announced Naïm Abou-Jaoudé as the chief executive officer of New York Life Investment Management (NYLIM) with effect from May 1, 2023.

Abou-Jaoudé is the current CEO of Candriam, a Europe-based asset manager and a subsidiary of New York Life. He is also chair of New York Life Investment Management International.

In the new role, Jaoudé will report to Alain Karaoglan, head of strategic businesses at New York Life.

Following a career spanning 30 years in investment management, Jaoudé will be responsible for NYLIM’s multi-boutique operation across the US, UK, Europe, Asia and Australia, and its US 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 the CEO of Candriam. I am confident in the leadership and vision he will bring to NYLIM in future,” said Craig DeSanto, CEO and president, New York Life.

NYLIM’s international business represents 45% per cent of total assets under management.

“Candriam is one of the fastest-growing asset managers in Europe – a success story we’re proud to share, doubling assets under management since its acquisition. I have confidence that under Naïm’s direction, NYLIM and Candriam will continue on their growth trajectories,” said Karaoglan.

Vincent Hamelink, chief investment officer, Candriam, will succeed Abou-Jaoudé as the CEO of Candriam, while Renato Guerriero, chief sales and distribution officer, will serve as deputy CEO in charge of global development and distribution – both effective May 1, 2023.

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