New York Life has picked Matt Wion to run its retail annuity enterprise.

Wion has been the chief monetary officer for a unit that handles many several types of merchandise, together with institutional life insurance coverage and institutional annuities. He’ll succeed Todd Taylor, who beforehand held that submit and is now head of New York Life’s life insurance coverage options enterprise.

Wion mentioned he’s honored to play a task in shaping the long run for the corporate’s brokers and advisors in addition to the purchasers.

“Retirement revenue options aren’t nearly monetary safety,” Wion mentioned. “They empower people to attain the retirement they’ve labored exhausting to create.”

What it means: A significant annuity issuer is placing somebody with a give attention to sustaining sound annuity funds in control of its retail annuity enterprise.

New York Life: New York Life is a policyholder-owned mutual insurer with $409 billion in property.

It generated $19 billion in U.S. particular person annuity gross sales in 2023 and ranked fourth altogether, based on information from LIMRA.