Craig Sabal to Succeed Tony Malloy as Chief Investment Officer of New York Life

NEW YORK--(BUSINESS WIRE)--New York Life announced today that Craig Sabal has been named chief investment officer (CIO) of the company, effective Jan. 1, 2026. Sabal, who joined New York Life in 2020 as deputy CIO, will be responsible for the investment strategy, asset allocation, and management of New York Life’s general account.

Sabal will succeed Tony Malloy, who will be retiring in 2026 after a distinguished 40-year career in the investment industry, including 27 years at New York Life. Malloy was appointed CIO in 2017.

“Tony’s leadership has been instrumental to New York Life’s enduring financial strength. Through his steady guidance and unwavering commitment to our policy owners, he has stewarded our general account through every market environment,” said New York Life Chair, President and CEO Craig DeSanto. “Craig Sabal brings an exceptional blend of risk discipline, forward-thinking innovation, and deep investment expertise. He is the right leader to guide our general account investment strategy into the future — ensuring that we remain well positioned to deliver unparalleled value and fulfill every promise we make to our clients.”

Sabal has more than 25 years of experience managing insurance portfolios, including the past five years serving as deputy CIO and working closely with Malloy. Prior to joining New York Life, he held senior investment roles at Lehman Brothers, Goldman Sachs and AIG.

ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest¹ mutual life insurance company in the United States and one of the largest life insurers in the world. With headquarters in New York City, New York Life’s family of companies offers life insurance, and other solutions. 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.²

¹ _{Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/2/2025. For methodology, see https://fortune.com/company/new-york-life-insurance/}

² _{Individual independent rating agency commentary as of 5/16/2025: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aa1), Standard & Poor’s (AA+)}