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New York Life’s Key Decisions Prior to Financial Crisis Featured in Current Issue of The Case Research Journal

“Adjusting the Investment Portfolio to Market Conditions” Details Company’s Critical Investment Decisions Made Before Crisis Struck
Case Study is a Classroom Exercise at Manhattan College Highlighting Long Term Philosophy, the Value of Mutuality and the Company’s Commitment to Its Policyholders

NEW YORK, August 9, 2013—New York Life today announced that the case study, “New York Life: Adjusting the Investment Portfolio to Market Conditions,” appears in the current issue of The Case Research Journal (CRJ), the leading academic journal for cases in business and related disciplines in North America. CRJ is published by the North American Case Research Association.

“In 2009 we were made aware of New York Life’s ‘quality tilt’ investment strategy that brought the company successfully through the depths of the financial crisis and inquired to learn more. What resulted has been an important case study that we use with business school students that teaches valuable lessons that we hope our students will employ in the real world,” said Janet Rovenpor, Ph.D., and Mary Michel, Ph.D., professors in the School of Business, Manhattan College and authors of the case study. “Having the case study appear in CRJ is a career high point for both of us but also speaks to the case’s value and importance for a broader audience.”

“We are proud of our company’s tradition of making long-term decisions for the benefit of our policyholders and honored that this commitment is being highlighted in the country’s leading academic journal for cases in business and utilized by two renowned professors as part of their college curriculum,” said Arthur H. Seter, senior managing director and deputy chief investment officer of New York Life.

About the Authors

Janet L. Rovenpor has been a Professor of Management in Manhattan College’s School of Business since 1991. She is a former recipient of the Louis F. Capalbo Professorship of Business and currently serves as the Chair for the Management and Marketing Department. She received her Ph.D. in Management (with a specialization in Organizational Behavior) from Baruch College/The City University of New York. Her research has focused on business ethics, managerial values and personality traits, women in management, and organizational crises. Ms. Rovenpor has written case studies on JetBlue Airways, Abercrombie & Fitch, Respironics, Wal-Mart, The Corcoran Group, The Alyeska Pipeline Service Company, and Eli Lilly & Company. She is a member of the Academy of Management and the North American Case Research Association.

Mary Michel, Ph.D., has been the Assistant Professor of Accounting in Manhattan College’s School of Business since 1998. She is a former recipient of the Gabriel Hauge Faculty Fellowship. She received her Ph.D. in accounting from Columbia University in 1997 and holds a Master of Science in Industrial Administration from Carnegie Mellon University. From 1991-2008 she was also a member of the faculty team of the Finance and Accounting for the Non-Financial Executive program for Columbia University Executive Programs. Her research explores accounting for life insurers, telecommunications policy and case studies. Prior to her academic career, Ms. Michel was an Assistant Vice President/Senior Business Analyst for the investment management firm Scudder, Stevens & Clark. She was an Assistant Manager in the Management Reporting and Analysis department of Chemical Bank, where she developed and implemented management accounting policies. She is a member of the Committee on Academic Advancement and Higher Education of the New York State Society of Certified Public Accountants.

About the Case Research Journal

The Case Research Journal is published by the North American Case Research Association. The CRJ is the leading academic journal for cases in business and related disciplines in North America. The Case Research Journal publishes outstanding field-research-based, decision focused teaching cases drawn from research in real organizations, dealing with issues in all administration-related disciplines. Occasionally, the Journal publishes papers concerning case research, case writing or case teaching. All manuscripts are double-blind refereed by Editorial Board members and ad hoc reviewers in the appropriate discipline.

The Journal publishes four issues a year and has an acceptance rate of less than 15 percent. Cases published in the CRJ are distributed directly to libraries and subscribers and online through NACRA’s publishing partners, including XanEdu, Harvard, McGraw-Hill, ECCH, Study.net, Pearson, and Wilfrid Laurier University.

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 website 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 20, 2013. See http://money.cnn.com/magazines/fortune/fortune500/2013/faq/?iid=F500_sp_method%20 for methodology.
**Individual independent rating agency commentary as of 8/1/13.
***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.

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