New York Life Fires Private-equity Lending Ceo

New York Life Investments to Acquire Dexia Asset Management

life insurer owned by policyholders, fired Trevor Clark, the chief executive officer of the Madison Capital Funding LLC unit, for violating policies tied to personal investments. Hugh Wade, a co-founder of Madison Capital, was named acting CEO, the New York-based insurer said today in an e-mailed statement. New York Life also fired Christopher Williams, a senior managing director at the unit, the insurer said. The dismissals, effective today, were for violating company policies pertaining to personal investments and personal business activities, William Werfelman, a New York Life spokesman, said in the statement. Our companys rules are strict with regard to these disclosures and activities so we can continue to maintain the highest integrity and performance. Clark and Williams had been suspended amid a company probe, a person familiar with the matter said last week. Attempts to reach the men werent immediately successful through phone numbers and e-mails obtained in a public-records search. The men in 2001 helped found Chicago-based Madison Capital, which provides financing to private-equity firms, according to New York Lifes website. The business has completed more than 1,100 transactions totaling more than $15.5 billion in net funded commitments. The unit offers senior loans and equity co-investments, in industries including manufacturing and distribution. Madison Capital targets companies with stable profits and at least $3.5 million of earnings before interest, taxes depreciation and amortization. Wade, 52, is a senior managing director at Madison Capital and previously worked at Bank of America Corp.

New York Giants: A Team Apart

Grant Halverson/Getty Images This is the easiest week to make bold game predictions that favor the New York Giants in at least a decade. One of the definitions of the word bold as an adjective is beyond the usual limits of conventional thought or action. That is the definition we will be using for these predictions. After falling to 0-3 by losing to the previously winless Carolina Panthers , 38-0, saying “Big Blue” will do anything positive in a game is certainly well beyond conventional thinking. Surprisingly, however, there is some solid evidence that the Giants can do several things well against the Kansas City Chiefs , even though Kansas City is undefeated and playing in front of their raucous home fans . Will these bold predictions lead to a win for New York, which is certainly an unconventional opinion in and of its self? Find out in the following slides, ordered from least bold to most bold. The Defense Will Sack Alex Smith Four or More Times Brian Bahr/Getty Images The Giants defense has only three sacks in three games, which is surprising, given the talent, albeit aging in certain spots, on the defensive line. Big Blue may not have the ability to harass quarterbacks on a weekly basis, as they did in their 2007 and 2011 Super Bowl seasons, but a big sack performance once every four weeks is certainly to be expected. Right on cue, this should be the week they are able to do it. For starters, Kansas City has surrendered a healthy 10 sacks this season. Even more promising, all of these sacks occurred in the last two weeks. The Dallas Cowboys took down Alex Smith four times in Week 2 and the Philadelphia Eagles topped their NFC East rivals with six sacks of the Chiefs quarterback last Thursday night. Speaking of Smith getting sacked, this is a play the Giants have not been foreign to in recent years. They have sacked the nine-year veteran nine times in their last three meetings against him, dating back to the 2011 regular season, when he was a member of the San Francisco 49ers .

5 Bold Predictions for New York Giants’ Week 4 Matchup Versus Kansas City Chiefs


But for a polarizing team that has such a storied history of turning things around, don’t we owe them a little gratitude? Shouldn’t we overlook a few weeks of atrocity and give our beloved Big Blue the benefit of the doubt? To be honest, in respect to every diehard fan who has sympathetically reached deep inside over the past few weeks: No. This team stinks and it’s time to think about alternative options. Now, sure, the Giants have a chance to turn things around and win a few games here and there, but they aren’t making the playoffs to save their lives. Only a handful of teams have ever made the Big Dance after starting a season 0-3. They honestly have a better chance of overtaking the city of Miami and signing LeBron James this offseason. So what is to be done about this squad of uninterested veterans running around the field looking for clues? Simple: it’s time to disbar Coughlin, completely reshape both fronts and teach David Wilson how to not carry the football like he’s sprinting into battle with a live grenade. Now I know it may come off as a little harsh to let old Tommy Boy go, but at some point you need a fresh face managing the things that are, well, not being managed. The run game looks like a wild pack of housewives sprinting into the supermarket for the last Thanksgiving Day ham. It has been downright chaotic. Tim Heitman-USA TODAY Sports The passing attack has been there when Eli gets protection, but even our beloved two-time Super Bowl MVP has discovered yet another way to turn the ball over like he was playing hot potato. Justin Tuck can’t sack a six-inch cold cut combo, Jason Pierre-Paul has the stamina of John Goodman and the secondary continues to jump head first off the first cliff they see. This team, for the lack of a better word, is bad. They don’t seem to have the drive that fueled all those prolific playoff victories in the past. They seem disinterested about anything football related and it’s really starting to rub off on the fans. We deserve better than this. We deserve a coach that can instill determination into his players and players who can get behind their coach. We don’t need this circus. New York is a strange enough place already that scratching your head week in and week out is going to leave plenty of disgusted viewers concussed. Wesley Hitt/Getty Images So for the fans that support these words and accept this 0-3 start as a metropolitan apocalypse, understand this: Finding a quick fix isn’t going to be difficult. The Giants aren’t going to finish the season winless. But you have to realize one thing: The reign of overcoming adversity and challenging the league’s best under Coach Coughlin is over.

MainStay Investments(R) is a registered service mark and name under which New York Life Investment Management LLC does business. MainStay Investments is an indirect subsidiary of New York Life Insurance Company. Securities of the MainStay Funds are distributed by NYLIFE Distributors LLC. 169 Lackawanna Ave Parsippany, NJ 07054. Please call 800-MAINSTAY (800-624-6782) for MainStay Funds prospectuses. Please consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus contains this and other information about the investment company. Please read it carefully before you invest. About Dexia Asset Management Dexia Asset Management is an asset manager specialized in fund management and institutional and private mandates. Dexia Asset Management is a first-tier, pan-European and Australian player managing EUR 74 billion in assets, distributed among a full range of investment vehicles, including traditional management, alternative management and sustainable and responsible investments. Dexia Asset Management has management teams in Brussels, Luxembourg, Paris and Sydney and sales teams throughout Europe, Australia and the Middle East.