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2 New York Life Investment Management execs to take on expanded roles

New York Life Investment Management LLC announced expanded roles for COO Kirk Lehneis and John Grady, senior managing director and vice chairman of New York Life Investment Management International.

Lehneis will be responsible for the retail business, MainStay Funds and IndexIQ, including global product development and marketing. Grady will also serve as chief administrative officer, responsible for strategy, mergers and acquisitions, and business development.

In addition, Stephen Fisher, president of MainStay Funds, will retire in September. Until that time, Fisher becomes senior adviser to New York Life Investment Management LLC CEO Yie-Hsin Hun. The company intends to hire a new head of U.S. distribution. In the interim, retail distribution roles that previously reported to Fisher will report to Hung.