The president of
MacKay Shields Financial, a
New York Life subsidiary and the investment advisor to the
Mainstay Funds has left the company to "pursue other opportunities," according to the New York-based company.
Dennis Laplaige, president since 1994, also ran the company's value equity team and oversaw the firm's equity business, which manages about $19.5 billion in U.S. and international stocks.
MacKay Shields said Laplaige's role as president has been assumed by
Ravi Akhoury, chairman and chief executive, while his position as head of the value team was transferred to
Richard Rosen, 40, who joined the company in January from
Prudential.
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