New York Life’s executive vice president John Y. Kim will add the post of chief investment officer to his other duties at the end of 2010.

Vice chairman and chief investment officer Gary Wendlandt elected to retire at year-end after nearly 40 years in the industry.

Kim is currently president and chief executive of New York Life Investments, the wholly-owned investment management subsidiary of New York Life, and will continue in that role when the chief investment officer position is added to his responsibilities.

Ted Mathas, chairman and chief executive of New York Life, says: “Since 2007, Gary has been a valued member of the company’s board of directors where his keen intellect, sage advice, and uncommon devotion to this company, our policyholders, our agents and employees will most certainly be missed.

“We are fortunate to have another accomplished senior executive to assume the position of chief investment officer upon Gary’s retirement at year-end. The board and I have asked John Kim, who has worked closely with Gary and me for the last two and a half years, to add the chief investment officer’s duties to his current responsibilities. Since he arrived at New York Life, John has been a member of the executive management committee, where he has made many important contributions.”

Kim will continue reporting to Mathas upon Wendlandt’s retirement.

Kim joined New York Life in 2008 after 25 years as a business executive with knowledge of investment management and strong operational skills running numerous businesses. Prior to joining New York Life he was president of Prudential Retirement, where he led its defined benefit, defined contribution and guaranteed products businesses, and before that he was president of Cigna Retirement and Investment Services.

He also spent 17 years with Aetna Life & Casualty, where he rose to the position of chief executive and chief investment officer of Aeltus Investment Management as well as chief investment officer of Aetna Life Insurance and Annuity Company.