Broad Market Juvenile 2007

Albert J. "Bud" Schiff, CLU

Chief Executive Officer

Mr. Schiff is Chief Executive Officer of NYL Executive Benefits LLC ("NYLEX Benefits"), a company specializing in the design, implementation, financing and ongoing administrative support of supplemental executive benefits programs.

Formerly, Mr. Schiff had retired as Senior Executive Vice President and a member of the Board of Trustees of the Mutual Life Insurance Company of New York ("MONY").

NYLEX Benefits is a subsidiary and the executive benefits consulting arm of New York Life Insurance Company (NYL), a Fortune 100 company. NYL is the largest mutual life insurance company in the United States, with an enviable 161-year history. NYL, combined with its affiliates, had $225 billion in assets under management at December 2005, $10.5 billion of surplus and 2005 GAAP revenues of more than $17 billion. NYL has among the highest ratings from the leading independent ratings agencies, including (at December 2005) A.M. Best (A++), Moody’s (Aaa), Standard and Poor’s (AA+) and Fitch (AAA) for financial strength.

Mr. Schiff is a graduate of the University of North Carolina at Chapel Hill, and he holds Pension Actuary (MSPA), Chartered Life Underwriter (CLU), and Accredited Estate Planner (AEP) professional designations. In addition, Mr. Schiff has served in numerous insurance industry leadership roles, including:

  • Former President — Association for Advanced Life Underwriting (AALU);
  • Former Chairman — International Million Dollar Round Table Top of the Table;
  • Former National Chairman of Continuing Education — Society of Financial Service Professionals;
  • Former President, New York City Chapter — Society of Financial Service Professionals;
  • Current member of the LIFE Foundation Board of Directors
  • Current member of The American College Foundation Board of Directors

Mr. Schiff has testified in Congress as an expert numerous times before the Senate Finance and House Ways and Means Committees and before the U.S. Treasury and Internal Revenue Service on behalf of the life insurance industry.

Mr. Schiff has also served in numerous other leadership roles, including:

  • Captain, United States Navy Reserve (Retired);
  • Past International President, Tau Epsilon Phi (TEP) Fraternity;
  • Former Chairman, University of Rochester Parents' Council.

An avid offshore yachtsman, Mr. Schiff and his wife Jayne reside in Greenwich, Connecticut. The Schiff's have two grown children, Matthew and Kara, and five grandchildren, Courtney, Alexa, Nicholas, Ty and James.

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Albert J. "Bud" Schiff, CLU

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