New York Life Investment Management: Helping Clients Manage Assets

Stephen Roussin was one of the major creative forces behind New York Life Investment Management LLC, an integrated global asset manager. Stephen Roussin joined New York Life in 1997; during his time with the company, he helped it grow from $85 billion to nearly $175 billion through both acquisitions and organic growth strategies.

Currently, New York Life Investment Management has $378 billion in assets under management, and it actively pursues its vision to become one of the most trusted providers of expertise related to investment management and long-term financial security. New York Life Investment Management serves a variety of sectors throughout the United States, including the retail, institutional, and guaranteed products sectors. The company also provides numerous client-focused services, including institutional asset management, retail investments, and retirement solutions.

Learn more about New York Life Investment Management at www.nylinvestments.com.

What is an ETF? by Stephen Roussin

In finance, the term ETF stands for exchange-traded fund. ETFs are listed on stock exchanges and can be traded like stocks, but their value also relates to the worth of a commodity, index, or group of assets like a mutual fund. The first ETFs appeared in the 1980s, but they did not become popular until later years. The oldest surviving ETF dates to 1993, and in 2011, more than 1,100 ETFs managed over $1 trillion in assets.

Though ETFs offer many investment advantages, including flexibility, strong long-term performance, and tax efficiency, they also have their weaknesses. Some nontraditional ETFs rely on derivatives and can be very risky investments. Others have specific goals that may not match up with an investor’s. Some ETFs may also be difficult to unload if the overall market begins a swift downturn.

About the Author:
Stephen Roussin possesses more than two decades of expertise in wealth and asset management, including direct experience overseeing ETFs at UBS. He presently serves as President of Campbell & Company.

The Role of the COO

By Stephen Roussin

In corporations, the Chief Operations Officer, or COO, oversees the day-to-day functioning of a business—in other words, its operations. The COO typically reports to the Chief Executive Officer, or CEO, who is responsible for more strategic, big-picture decisions.

During the course of a workday, a COO might deal with matters relating to overseeing marketing and sales, expanding the company’s customer base, securing cost-effective raw materials, and managing the risk of internal operations. To ensure that everything runs smoothly, the COO interacts directly with department heads, providing them with guidelines and targets for achieving various goals.

The COO may also have to resolve conflicts among various department heads; the COO is generally charged with monitoring the productivity of every department, which may involve devising motivations and rewards for reaching goals within each department.

A COO shares insight about the state of the company’s operations with the CEO and the Chief Financial Officer (CFO). Together, these top-level leaders devise action plans and strategies for the company, which they may be required to present to the board of directors for approval.

About Stephen Roussin

Currently the President of Baltimore-based Campbell & Company, Stephen Roussin held the position of President and Chief Operations Officer of New York Life Investment Management LLC. In that role, Roussin more than doubled the firm’s net value, from $85 billion to $175 billion.

Understanding the Absolute Return Sector: A Q&A with Stephen Roussin (Part 1 of 2)

Stephen Roussin, the President of Campbell and Company, has over 25 years in the wealth management sector. A veteran of UBS Wealth Management, Roussin answers questions about absolute return investments.

Question: What is the absolute return sector?

Stephen Roussin: The absolute return sector encompasses funds that use a wider range of investment strategies than traditional mutual funds. This diversification allows the funds to produce a higher rate of return than traditional investments. For instance, absolute return funds can increase earnings through short selling, futures, derivatives and investments such as real estate or life insurance policies.

Question: What are the benefits of an absolute return fund?

Stephen Roussin: The funds can produce higher earnings because they are not tied to a particular strategy. With a savvy manager, these funds can exploit new markets and investments. If a fund is one of the first to enter into a particular sort of investment, the payoffs can be enormous.

In the second part of this article, Roussin will discuss the drawbacks to absolute return funds, and what steps regulators are considering to give investors more information.

Stephen Roussin on the U.S. Recovery (Part 1 of 2)

U.S. economic experts have been analyzing the statistics for the first quarter of 2012. Stephen Roussin, a financial manager with over 25 years of experience, answered questions about the financial outlook for the United States.

Question: Is the economy growing or contracting? Is the recession over?

Stephen Roussin: The manufacturing sector, which makes up 12% of the U.S. economy, has been doing well. However, manufacturers warn that both China and the European Union are on the verge of economic crisis, which would lead to lower demand for U.S. products. Still, for the time being manufacturing looks good and factories are beginning to put people back to work.

Question: What about other sectors of the economy?

Stephen Roussin: That’s where things get a bit messier. The service sector is stagnant. That’s a problem, because before the recession the service sector was one of the fastest-growing segments of our economy. While consumers have begun to spend on durable goods again, they’re still not spending money on services. Construction also remains stagnant. So what we’ve got is a weak recovery which depends on continued stability in China and Europe.

In the second part of this article, Stephen Roussin will discuss why the current recovery has been so sluggish.