MacKay Shields Taps Jeffrey Phlegar as CEO

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MacKay Shields, an arm of New York Life Investments, has hired Jeffrey Phlegar as its chief executive. He joins from Special Opportunites and Advisory Services, where he built the firm's alternatives platform. Phlegar also served an 18-year stint at AllianceBernstein where he was its chief investment officer.

"Jeff brings to MacKay a wealth of fixed income knowledge along with a strong understanding of the global asset management business. His proven leadership, investment acumen, management experience and worldwide reputation in the asset management arena make him the right person to lead MacKay and to further develop its global footprint and product offering going forward," says Drew Lawton, CEO of traditional investments at New York Life Investments.

Phlegar replaces acting CEO Lucille Protas, who will stay on with the firm as president and chief operating officer.

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