Retired GE Exec Ronald Pressman Joins New York Life Board of Directors
NEW YORK, N.Y., November 1, 2011 — New York Life Insurance Company announced today that its Board of Directors has elected veteran General Electric Company executive Ronald Pressman to the company’s Board. Mr. Pressman retired from GE after more than 30 years of service, most recently as President and CEO of GE Capital Real Estate. A GE Senior Vice President for over a decade, Mr. Pressman also served as a director of GE Financial Services and GE Capital Corporation since 2000.
Ted Mathas, chairman and CEO of New York Life said, “In our deliberations as Directors, all of us on the Board look forward to benefiting from Ron’s broad and deep management expertise with one of the nation’s most respected companies, his leadership and business-building skills, as well as his valuable experience in insurance, real estate and asset management.”
Mr. Pressman held positions of increasing responsibility during his tenure at GE, which began in 1980. Prior to his most recent role heading GE Capital Real Estate, Mr. Pressman’s positions included Chairman, President and CEO of GE Insurance Solutions (former Employers Reinsurance Corporation), and President and CEO of GE Asset Management. As President and CEO of GE Capital Real Estate, Mr. Pressman led one of the world’s largest and most diversified commercial real estate finance and investment firms, with a presence in 35 countries and a portfolio of more than $85 billion in assets.
Mr. Pressman holds a bachelor’s degree from Hamilton College and he continues to serve the College as a Charter Trustee. He serves as chairman of the national board of A Better Chance, a nonprofit organization that opens doors to leadership development for children of color in partnership with our country’s top middle and high schools, and as a Director of Pathways to College, a nonprofit that delivers college preparatory skill building to underserved populations in some of the country’s toughest urban and rural districts.
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 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 5, 2011. See http://money.cnn.com/magazines/fortune/fortune500/2011/faq/for methodology.
**Source: Individual Third Party Ratings Report as of 8/23/11.
***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.