New York Life wants to help more top executives save for retirement.
The company has hired Joe Grieco to head distribution for efforts to use corporate-owned life insurance to fund small non-qualified deferred compensation programs. He will market the program to registered investment advisors as well as through other channels.
Grieco previously has been an executive at Fidelity Investments, State Street, Aon and North Pier Fiduciary Management.
New York Life's expression of interest in expanding COLI sales comes as OneAmerica Financial has added a non-qualified deferred compensation program.
Nationwide and some other large mutual life insurers have also been promoting efforts to serve that market more aggressively.
