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ICI Names New York Life Exec as Chair

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What You Need to Know

  • Hung, an alumna of Morgan Stanley and Bridgewater, is the first woman and person of color to hold the position.
  • Hung said she wants to lead the industry in the areas of ESG, diversity and inclusion and fintech.
  • Hung has been CEO of NYLIM since 2015.

The Investment Company Institute said Thursday that it has elected Yie-Hsin Hung, CEO of New York Life Investment Management, the insurer’s third-party asset management business, to serve as ICI chair.

Hung will preside over the board and its Executive Committee; she is the first woman and person of color to hold the position.

Hung was elected to the board in 2017 and joined its Executive Committee in 2019.

During that same year, she was chair of the planning committee for ICI’s flagship conference, the General Membership Meeting.

Hung has been CEO of NYLIM since 2015, and is also a member of New York Life’s Executive Management Committee.

She joined the company in 2010, and during this time, NYLIM’s assets under management have grown nearly fourfold through a combination of geographic expansion, organic initiatives and acquisitions, according to ICI.

Earlier in her career, Hung held senior leadership roles at Bridgewater Associates and Morgan Stanley in both its investment management and investment banking divisions.

“The regulated fund industry plays a critical role helping hundreds of millions of investors meet their financial goals,” Hung said in a statement. “Our industry has evolved tremendously in recent years, and this is a pivotal time for us to come together to reinforce the value we provide as new investors begin engaging with financial markets. I look forward to helping lead the industry on many critical issues, including environmental, social and governance investing, diversity and inclusion and fintech.”

ICI President and CEO Eric Pan added: “Yie-Hsin Hung’s considerable knowledge, experience, and achievements make her the ideal person to be the new chair of ICI and, therefore, the voice of the investment fund industry. I look forward to working closely with her as chair of our board as ICI promotes vigorously the interests of funds and the Main Street investors who rely on such funds.”