David Castellani Appointed Head of New York Life Retirement Plan Services

WESTWOOD, Mass., Nov. 30, 2010 /PRNewswire/ -- New York Life Retirement Plan Services today announced the appointment of David Castellani, a financial services and retirement industry veteran, as senior managing director and head of Westwood, MA.-based New York Life Retirement Plan Services (RPS), effective immediately.

Castellani will report to and assume many of the business management responsibilities of Drew Lawton, who was recently promoted to CEO of Traditional Investments at New York Life Investments. Lawton will continue to serve as the chief executive of RPS in addition to his expanded role with the organization.

"We are very pleased that an executive of David's caliber will be leading Retirement Plan Services in the years ahead," said Lawton.  "His 30 years of experience heading sales, marketing, strategy and client service for very large and influential financial services organizations will help position RPS for the strong growth that we envision over the next several years."

Castellani joins New York Life Retirement Plan Services from EWM, LLC, a wealth management firm based in Zurich and New Canaan, CT, where he served since 2009 as managing director and chief marketing officer for executive wealth management. Earlier, he served a combined 25 years at Prudential Retirement and before that, CIGNA Corporation, where he was responsible for sales, marketing, client service and strategic development within those organizations.

"RPS enjoys a reputation of service excellence in the industry.  I am honored to join such a successful organization and to help further enhance its role as a leading player in the retirement space," concluded Castellani.

About New York Life Retirement Plan Services

New York Life Retirement Plan Services offers bundled retirement plan solutions and defined contribution investment only products throughout the United States. New York Life Retirement Plan Services, a division of New York Life Investments, administers $38 billion in bundled retirement plans and manages over $3.5 billion in defined contribution investment only assets as of September 30, 2010.  With offices in Westwood, Massachusetts, and Parsippany, New Jersey, New York Life Retirement Plan Services is widely recognized for its leadership within the retirement plan industry.

About New York Life Investments

New York Life Investments ranks among the largest asset management firms in the United States.(1) Through its multiple boutique management structure, New York Life Investments offers access to leading institutional managers that drive performance. Through MainStay Investments and NYLIFE Distributors LLC, New York Life Investments provides access to some of the most highly regarded mutual funds and wrap accounts in the industry. Together with its affiliates and over 1,400 employees, New York Life Investments manages over $275 billion in assets as of September 30, 2010. New York Life Investments is a leading provider of retirement plans for corporations, multi-employer trusts, and individuals, and is recognized as one of the nation's top providers of guaranteed products to both the qualified and non-qualified markets.

1. Source: Pensions & Investments, May 31, 2010.

"New York Life Investments" is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.  

SOURCE New York Life Retirement Plan Services