MutualFundWire.com: Fisher Consolidates MainStay's FA Sales Under One Chief

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Friday, June 3, 2016

Fisher Consolidates MainStay's FA Sales Under One Chief

Stephen Fisher has consolidated MainStay Investments' [profile] advisor channel sales under a single chief. Meanwhile, another top MainStay executive is moving on.

Harvey P. Steele III
New York Life Investment Management
National Sales Manager

Last week Fisher confirmed the promotion of managing director and independent and RIA sales channel chief Harvey Steele to national sales manager for both wirehouse and independent channels. Meanwhile, a spokesman for MainStay, New York Life Investment Management's mutual fund arm, confirms that managing director and wirehouse and regional sales channel chief Jeff Nye "has left the company."

"We wish him well in his future endeavors," the spokesman tells MFWire.

Meanwhile, NYLIM CEO Yie-Hsin Hung just appointed the unit's first chief operating officer, Kirk Lehneis. Lehneis will be in charge of M&A, strategic planning and implementation, and training and strategic technology initiatives. He previously led product development for NYLIM.

Steele's promotion and Nye's departure also come a few months after MainStay's U.S. retail distribution chief, Brian Jacobs, left the company.

In his new role, Steele reports directly to Fisher, who is president of both NYLIM and MainStay. Fisher praises Steele as "a MainStay veteran who has played an important role in [the company's] overall growth and success."

"Harvey has a proven track record of developing and leading analytical strategies that have successfully positioned our tenured sales professionals as specialists and trusted advisors to our clients," Fisher states.

Steele is an alumnus of Albion College. He worked at Lord Abbett and Cohen & Steers before joining NYLIM in 2007 as an external wholesaler and has since risen up through the ranks.

Nye is an alumnus of Northeastern. A veteran of both AllianceBernstein (now AB) and Fidelity, he first joined NYLIM and MainStay in 2011.

Printed from: MFWire.com/story.asp?s=54152

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