Legg Mason has tapped Peter Nachtwey as its new chief financial officer, replacing Terrence Murphy, who has served as interim CFO since July. Nachtwey joins from The Carlyle Group, where he served in a similar role at the alternative investment manager.
Lincoln Financial's Randal Freitag has been promoted to executive vice president and chief financial officer. He succeeds Frederick Crawford, who has taken on the new role of executive vice president and head of corporate development and investments. Tim Gilleylen will also now be handling recruitment, coaching and development of financial planners in the Lincoln Financial Network for the Mid-America region. He comes on board from Morgan Stanley Smith Barney.
John Kim, president and CEO of New York Life Investments, will take on the duties of Gary Wendlandt, who has retired after 40 years in the industry. Going forward, Kim will serve as chairman and CEO of New York Life Investments, which has more than $275 billion in assets under management, and as chief investment officer of New York Life Insurance Company.