NU Online News Service, Nov. 24, 2003, 3:43 p.m. EST – New York Life Insurance Company, New York, has named a 36-year-old executive co-head of its life and annuity unit.[@@]

Theodore Mathas, who has been a senior vice president at the company and chief operating officer of the life and annuity unit since 2001, will become an executive vice president.

Phillip Hildebrand, 50, who has been the chief distribution officer at the life and annuity unit since 2001, will serve as the other co-head of the unit, New York Life says.

Hildebrand, an executive vice president at the company since 1999, will retain the EVP title.

Mathas started at New York Life as a corporate vice president in the asset management department in 1995. He has a bachelor’s degree from Stanford University and a law degree from the University of Virginia.

Hildebrand, who played varsity football at Northern Arizona University, began working for New York Life as an agent in 1975. He holds the Chartered Life Underwriter professional designation and serves on the board of the Million Dollar Round Table Foundation.

New York Life also says it is putting Frederick Sievert, 55, its president, in a new Office of the Chairman. Sievert, who has been president of New York Life for about a year, will serve in the office along with Sy Sternberg, 60, the company’s chairman and chief executive.

Sternberg and Sievert both will retain their current titles, but Sternberg says Sievert will have a “new, expanded role.”

Sievert joined New York Life in 1992 as a senior vice president responsible for financial management in the individual operations unit. He has a bachelor’s degree from Amherst College and a master’s degree from Wayne State University.