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New York Life Named One of 25 “Best Companies for Multicultural Women” by Working Mother

NEW YORK, N.Y., May 22, 2012 — New York Life has been named one of Working Mother’s 25 “Best Companies for Multicultural Women.” The magazine honors 25 companies in the June/July issue to promote the interests of women of color in corporate America. New York Life was recognized for hiring, retaining and advancing multicultural women.

“The Best Companies for Multicultural Women value the power of a diverse workforce and work hard to make sure their pipelines are filled with talented women of color,” said Jennifer Owens, director of the Working Mother Research Institute. “Even beyond mentoring and networking programs, these companies are reaching out to professional and school groups and sponsoring recruitment events to attract the best multicultural female talent.”

“We are honored to once again be recognized by Working Mother as a Best Company for Multicultural Women,” said Joanne Rodgers, vice president and chief diversity officer, New York Life. “Workplace diversity is something we foster because we recognize that harnessing the wealth of talents and perspectives of people from different backgrounds is not only crucial to our success as a company, it’s a part of our culture. We are proud of our longstanding history for attracting, developing and retaining a diverse employee population, and we will continue to provide comprehensive resources to support their growth and development.”

New York Life was recognized by the magazine for employing hallmark methods to ensure the advancement of multicultural women, including:

  • Career counseling and guidance from senior leaders to female multicultural employees to help orchestrate career plans, gain access to key assignments and enhance their knowledge of what it takes to advance;
  • Executive diversity groups to grow knowledge of inclusion practices;
  • Regional conferences to actively seek out female professionals and underrepresented minorities; and
  • Diversity and inclusion goals built into managers’ performance objectives.
  • The Working Mother Best Companies for Multicultural Women were selected based on representation, hiring, attrition and promotion rates, recruitment, retention and advancement programs, and company culture. The Working Mother Research Institute created a scoring algorithm based on the previous year’s benchmark results to determine the winners. The 2012 Best Companies for Multicultural Women is chronicled in the June/July 2012 issue of Working Mother. The full report is featured in the June/July issue of and online at Multicultural Women. This is the 10th anniversary of the initiative.

    About New York Life

    New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).** Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life's Web site at www.newyorklife.com for more information.

    *Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, May 21, 2011. See http://money.cnn.com/magazines/fortune/fortune500/2011/faq/ for methodology.

    **Source: Third Party Ratings Reports as of 1/25/12.

    ***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

    About Working Mother Media

    Working Mother magazine reaches 2.2 million readers and is the only national magazine for career-committed mothers; WorkingMother.com (workingmother.com) gives working mothers @home and @work advice, solutions, and ideas. This year marks the 27th anniversary of Working Mother’s signature research initiative, Working Mother 100 Best Companies; and the tenth year of the Best Companies for Multicultural Women. Working Mother Media, a division of Bonnier Corporation (bonnier.com), includes the National Association Female Executives (NAFE, nafe.com), Diversity Best Practices (diversitybestpractices.com), and the Working Mother Research Institute. Working Mother Media’s mission is to serve as a champion of culture change.