A solid track record in annuity & mutual fund development
NEW YORK, March 26, 2013 — New York Life has announced the promotion of Matthew Grove to senior managing director. Mr. Grove is in charge of the Retail Annuities business, including product development, product management, marketing, in-force business and annuity service operations. He reports to Senior Managing Director Drew Lawton.
Mr. Grove joined New York Life in 2009 to lead the company’s effort to establish guaranteed lifetime income as an asset class, and he was also responsible for the distribution of mutual funds and annuity products through Registered Investment Advisors (RIAs). Two years ago, Mr. Grove was instrumental in the development and marketing of the company’s new Guaranteed Future Income Annuity (GFIA), a deferred income annuity that just passed $1 billion in premium in its first 18 months on the market. This is the strongest sales introduction of a new annuity product in the company’s history, with GFIA now the industry standard against which other products are measured. New York Life is the market share leader in income annuities.
Prior to joining New York Life, Mr. Grove was the chief marketing officer of Jefferson National, an insurance company focused on serving the needs of the RIA market. At Jefferson National, he was responsible for developing and marketing the leading annuity product distributed through the RIA channel. Earlier in his career, Mr. Grove ran his own technology consulting firm focused on building enterprise software for financial services firms.
Mr. Grove has an MBA from Columbia University and a Bachelor of Science degree in computer science from the University of Pennsylvania, where he graduated summa cum laude.
