Stone Ridge Holdings Group has announced that former New York Life CEO, Ted Mathas, has joined as Senior Advisor to help the firm scale its innovative suite of products purpose-built for financial advisors and insurance companies.
With investment risk, inflation risk, and longer lifespans contributing to financial insecurity, Mathas will also guide Stone Ridge’s effort in developing and launching new asset management strategies that, through a groundbreaking series of innovations, harness longevity pooling to deliver significantly higher, inflation-protected, and credit-risk-free payouts compared to traditional fixed income.
As Advisory Chairman of this initiative, he will champion Stone Ridge’s mission to empower financial advisors and, via their clients, fundamentally transform retirement, and retirement planning, in America, the Group explained.
“I am fortunate to be in a position where I can retire from a full-time role and company I love, but not stop working on things I care deeply about with people who share my values and passion,” said Mathas.
He added: “I’m especially excited to help develop and distribute Stone Ridge’s breakthrough innovation of embedding longevity pooling inside asset management strategies.
“By combining my experience with their history and culture of innovation, I believe we can deliver revolutionary retirement solutions for financial advisors that will greatly enhance their clients’ ability to make retirement about the freedom to pursue what they want to do with the people they want to do it with.”
Mathas had previously served as New York Life’s Chairman and Chief Executive Officer for more than 14 years. He successfully led the organisation through both the Great Recession and Global Pandemic.
Under his leadership, New York Life’s assets under management more than tripled to $760bn and the organisation was, and remains, a leading provider of retail life insurance and annuities in America.
Additionally, over the past decade in his role as CEO of New York Life, Mathas has forged a close relationship with Stone Ridge in a variety of capacities, including as investor and board members, the Group noted.
Stone Ridge Founder and CEO, Ross Stevens, commented: “Ted’s leadership skills and product expertise are unparalleled, but our partnership works because our values and mission align: relentless pursuit of Financial Security for All.
“Ted and I have worked closely over the years and I’m honoured and thrilled he is joining Stone Ridge, coaching me and our entire executive team to become better leaders while helping our operating companies thrive.”
