New York Life Insurance Co. announced plans to merge its general account and third-party asset management businesses, forming a single global investment platform with approximately $785 billion in assets under management.
The consolidation, which will take effect Jan. 1, 2026, is intended to unify the company’s investment operations across public and private markets.
The company stated that the new platform will bring together the full scale and capabilities of its investment expertise to serve clients more effectively. New York Life also said it will make investments in asset origination, product development, distribution, brand, technology, and infrastructure to support its growth strategy.
Naïm Abou-Jaoudé (pictured above), who will lead the combined platform, said in a statement, “Our clients are looking for a trusted partner with global scale and deep investment expertise across private and public markets.”
The unified organization is expected to rank among the top 20 global public fixed-income managers, with $363 billion in assets, and among the top 15 private-markets managers, with $228 billion in assets.
New York Life also said the combined platform will leverage its scale and collaborative approach to address client demand for integrated, multi-asset solutions across different regions and asset classes.
Portfolio management teams will maintain their investment autonomy, continuing to deliver differentiated strategies with oversight and a focus on client objectives, according to the statement.
In addition to the platform consolidation, New York Life has made recent leadership appointments to support its broader innovation strategy. The company named Vikas Sharma as chief data officer and Achuth Rao as head of AI and data product management.
Both executives will focus on developing data-driven and artificial intelligence solutions across the enterprise, reporting to the chief data and analytics officer.
The company also expanded its board of directors, appointing Christopher D. Kastner, president and CEO of Huntington Ingalls Industries. Kastner will serve on the board’s Audit and Investment committees, bringing extensive operational and financial experience.
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