NU Online News Service, Feb. 20, 12:23 p.m. – Northwestern Mutual Life Insurance Company, Milwaukee, has folded some of its existing investment operations into Mason Street Advisors L.L.C., a new, wholly owned asset management company.

Mason Street will provide investment advisory services for Northwestern, Northwestern’s family of variable life and annuity products, and Northwestern’s Mason Street Funds family of mutual funds.

Mark Doll, a senior vice president at Northwestern, will be president of the new advisory unit, Northwestern says.

The unit employs about 50 people. Many have been working in the public markets department at Northwestern Investment Management Company L.L.C., Northwestern says.