NEW YORK(October 16, 2007) – New York Life Investment Management (NYLIM) today announced the appointment of David G. Bedard, 43, as senior managing director and chief financial officer.   Bedard will be responsible for all financial aspects of the firm, now with over $245 billion in assets under management.  He will report directly to Brian A. Murdock, president and chief executive officer of NYLIM.

“As NYLIM continues its rapid growth trajectory and its multiple boutique investment structure continues to evolve and strengthen, we sought a CFO candidate suited to help continue our growth as a preeminent asset management firm operating within the context of an insurance industry parent,” said Murdock.  “Dave’s intuitive understanding of both industries, and the synergies that exist between them, make him uniquely qualified to take the helm of our financial operations.  We are extremely pleased to welcome him to NYLIM.”

Bedard joins NYLIM from The Hartford where he served as a senior vice president and chief financial officer of the U.S. Wealth Management Group.   Assuming that role in 2004, Bedard was responsible for all financial aspects of the multi-billion dollar division which included financial oversight of the company’s individual annuities, mutual funds, retirement plans, institutional investment products, individual life operations as well as the group’s broker/dealer subsidiaries.

Bedard joined The Hartford in 2000 as CFO of the company’s Group Benefits division.  Prior to The Hartford, he spent three years with Mass Mutual, most recently as a senior vice president in corporate financial services.  Prior to Mass Mutual, Bedard spent eleven years with Coopers & Lybrand LLP in a number of roles of increasing responsibility, most recently as a partner and key member of the company’s National Insurance Industry Practice.

Bedard graduated Nichols College cum laude majoring in accounting with a Bachelor of Science in Business Administration. He is a certified public accountant (CPA).

New York Life Investment Management Holdings LLC, ranks among the largest asset management firms in the United States.  Through its multiple boutique investment structure, NYLIM delivers superior investment performance through an array of products designed for both institutional and retail clients. Through MainStay Investments, NYLIM distributes some of the most highly regarded mutual funds and wrap accounts in the industry. 

NYLIM is a leading provider of retirement plans for corporations, multi-employer trusts, and individuals, and is recognized as one of the nation’s top providers of guaranteed products to both the qualified and non-qualified markets. Together with its affiliates and over 1,500 employees, NYLIM manages over $245 billion in assets as of August 31, 2007.

Media Contact:
John Puccio
New York Life Investment Management
212-576-8172
john_puccio@nylim.com