Chief Operating Officer Has Championed Innovations in Life and Annuity Products
NEW YORK, N.Y., June 26, 2007 — New York Life Insurance Company announced today that its Board of Directors has elected Theodore A. Mathas as president of New York Life, effective July 1, 2007. Mr. Mathas, 40, continues as chief operating officer. The president’s title was previously held by Frederick J. Sievert, 59, who is retiring after 15 years of service.
New York Life Chairman and CEO Sy Sternberg, said, “Ted has made enormous contributions to New York Life in the 12 years he has been with us. He has contributed to virtually every facet of our company, including our life and annuity products, distribution systems and services, and our international operations. We are fortunate to have a leader of Ted’s vision and energy as our next president. In his new role Ted will assist me in the overall management of the company, while continuing his responsibilities as chief operating officer for all domestic and international operations.”
“All of us at New York Life thank Fred Sievert for his outstanding service to our company and we wish him the very best in retirement,” Mr. Sternberg added.
Mr. Mathas will continue to serve as chief operating officer, responsible for the Office of the Chief Operating Officer which oversees all domestic and international business operations including life insurance, retirement income, investments, long-term care insurance and related businesses, as well as the company’s career agency system. The Office of the COO includes Vice Chairman Phillip Hildebrand and Senior Executive Vice President Gary Wendlandt.
Since 2002, Mr. Mathas has been a member of the company’s Executive Management Committee, which is responsible for establishing management policies in all areas of New York Life’s business and affairs. He also serves on the board of Haier New York Life Insurance Ltd., the company’s joint venture in China.
Mr. Mathas joined New York Life in June 1995 as an officer in the Asset Management Department. He became President of Eagle Strategies Corp., a registered investment subsidiary, in September 1996. In May 1997, Mr. Mathas assumed the additional position of President of NYLIFE Securities Inc., a retail broker-dealer subsidiary. He was promoted to Senior Vice President in September 1998, and in June 1999, he became Chief Operating Officer in the Agency Department at New York Life. He became Chief Operating Officer for Life and Annuity in April 2001 and was elected Executive Vice President in January 2004, when he was named Co-head of U.S. Insurance Operations. Effective July 1, 2006, Mr. Mathas became Chief Operating Officer and was elected a member of the company’s board of directors with the title of Vice Chairman of the Board.
Mr. Mathas graduated with an A.B. from Stanford University, with distinction, in 1989. He received a J.D. from the University of Virginia in 1992, where he was a member of the Virginia Law Review and the Order of the Coif. He and his wife, Keryn, live in Armonk, New York, with their three children.
New York Life Insurance Company, a Fortune 100 company, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Founded in 1845 and headquartered in New York City, New York Life and its affiliates offer life insurance, retirement income, investments and long-term care insurance. New York Life Investment Management, LLC provides institutional asset management, retirement plan and trust services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.
Visit New York Life’s Web site at www.newyorklife.com
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|Ted Mathas Elected President Of New York Life Insurance Company|