NEW YORK–(BUSINESS WIRE)–New York Life announced today that Eric Feldstein has been named Executive Vice President and Chief Financial Officer (CFO), reporting to Chairman and Chief Executive Officer Ted Mathas. In this role, Mr. Feldstein will have responsibility for leading the company’s Finance organization, including business unit finance, the finance services organization, treasury and corporate financial planning and analysis, controllers, and the Office of the Chief Actuary. He will also be a member of the Executive Management Committee.
Mr. Feldstein joins New York Life from Health Care Service Corporation, the largest mutual health insurer in the United States, where he was CFO from 2016 to 2019 with responsibility for the company’s accounting, financial planning, treasury, tax, product pricing, and procurement activities. From 2010 to 2016, he served as an Executive Vice President with American Express, where he was responsible for managing a large portfolio of global businesses with diversified sources of revenue and profits.
Mr. Feldstein began his career in finance with General Motors where he held a variety of roles with increasing responsibility. He served as Treasurer from 1997 to 2002, and subsequently served as Chief Executive Officer of GMAC Financial Services from 2002-2008, leading their worldwide enterprise including Global Auto Finance, Global Insurance, Real Estate Finance / Mortgage, and Commercial Finance. He holds a Bachelor of Arts from Columbia University and Master of Business Administration from Harvard University.
Mr. Feldstein replaces Joel Steinberg, who was serving as interim CFO following the retirement of the company’s former CFO John Fleurant earlier this year. Mr. Steinberg will resume his full-time role as Chief Risk Officer and continue to report to Mr. Mathas.
“Eric’s proven financial acumen and impressive track record of success in managing complex businesses and financial units across several industries makes him the ideal choice for our company,” said Mr. Mathas. “He represents a strong addition to our senior management team, and I am confident he will help us build on our legacy of financial success as we continue to deliver on our long-term commitments to our policy owners and clients.”
About New York Life
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/1/19. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 9/12/19: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
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