MainStay Hires Credit Suisse's Lloyd in Boutique-Investing Push

  • Asset manager also hires Jonathan Blaze from Thornburg
  • Lloyd and Blaze will work in institutional intermediary group

New York Life Insurance Co.’s MainStay Investments hired Credit Suisse Group AG’s John Lloyd as the company works to promote boutique asset-management options for clients.

Lloyd, 47, was named managing director and head of the research platform group at the institutional intermediary business, MainStay said Monday in a statement. He replaces Steve Sciortino, who is taking a role in product marketing.

The insurer has been building asset-management operations for institutional and retail clients, expanding in exchange-traded funds with its acquisition of IndexIQ last year. MainStay had about $88 billion in assets under management as of Nov. 30 and hired Charles Reinhard in July to lead portfolio strategy. Lloyd was head of portfolio solutions and investment consulting solutions for Credit Suisse Private Bank, and previously had roles at Merrill Lynch, Reuters Analytics Group and Dean Witter Discover, according to the statement.

“John has worked for some of the world’s largest and most respected financial institutions, and we look forward to leveraging his broad and impressive experience,” Brendan Gundersen, head of MainStay’s institutional intermediary business, said in the statement.

Gundersen’s operation also announced the addition of Jonathan Blaze, previously of Thornburg Investment Management, to a new role leading the wholesaling specialist effort nationwide in a defined-contribution practice. Blaze, 57, has also worked for Great West Retirement Services.

Nicole Sharp, a spokeswoman for Credit Suisse, and Thornburg’s Rebecca Carrier declined to comment on the moves.

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