New York Life Names Don Salama Head of Tampa Direct Marketing Operations
NEW YORK, N.Y., June 7, 2011 – New York Life Insurance Company announced today that Don Salama has been elected Senior Vice President in charge of the company’s Tampa Operations. He begins his new role on July 1 and will report to Executive Vice President and head of New York Life Enterprises, Dick Mucci.
New York Life’s Tampa Operations, which began as a start-up operation in 1994, have made New York Life the leading direct marketer of life insurance in the U.S. with close to two million customers. With the exclusive endorsement of AARP to make life insurance and lifetime income products available to its millions of members, New York Life is the pre-eminent provider of life insurance products to the mature age market. The business has consistently been recognized as an innovative workplace and a leading employer in the Tampa-St. Petersburg, Florida area.*
“Don is a seasoned executive with a tremendous background in building and running successful financial services businesses,” said Mr. Mucci. “His leadership strength, strong track record and deep understanding of the life insurance and retirement business make him an excellent choice to lead the Tampa business as it enters the next phase of its growth. Our Tampa operations are an excellent example of how New York Life is building on our leadership position in the U.S. and extending the company’s value proposition. We’re very excited about the long-term potential of our Tampa business, particularly its ability to insure even larger numbers of Americans who are seeking the peace of mind and financial stability that life insurance and annuities from New York Life can bring.”
Prior to his new role, Mr. Salama was Chief Strategy Officer and Senior Managing Director of New York Life Investments. He also served as the head of New York Life Retirement Plan Services and was responsible for Retirement Plan Services’ sales and marketing functions. Previously, Mr. Salama has also held numerous management, sales and marketing roles over the last 20 years for a number of leading insurance companies, banks and mutual fund firms.
New York Life Enterprises manages a diversified portfolio of New York Life’s stand-alone businesses, while pursuing new growth opportunities in the U.S. Enterprises is comprised of New York Life’s Tampa business, its Group Membership Association division and the company’s international businesses in Mexico, India and Taiwan. Currently, Enterprises’ six businesses have more than 5,000 employees and 43,000 agents, serving over eight million policyholders. Today, Enterprises contributes more than $3.4 billion of New York Life’s annual operating revenue and more than 10% of the company’s earnings.
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 from all four of the major credit rating agencies. 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 institutional and retail mutual funds. Please visit New York Life’s Web site at www.newyorklife.com for more information.
*Tampa Operations named “Top Place to Work in Tampa Bay” by St. Petersburg Times in 2010 and 2011.
**Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, May 5, 2011. See http://money.cnn.com/magazines/fortune/fortune500/2011/faq/ for methodology.
***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.