MacKay Shields Announces Appointment of Janelle Woodward as President

New York, September 28, 2020 – MacKay Shields LLC (“MacKay”), a global asset manager focused on fixed income and equity investing, today announced the appointment of Janelle Woodward, CFA, as President. Reporting to Jeffrey Phlegar, Chairman and Chief Executive Officer, Ms. Woodward will work with Mr. Phlegar in overseeing the firm’s seven autonomous investment teams and will partner with the head of global distribution to further address growing demand for custom investment solutions. Additionally, she will lead the firm’s Diversity and Inclusion initiatives. Ms. Woodward will succeed Lucille Protas, who announced in January her plan to retire.

“I could not be more proud of the tremendous growth MacKay has achieved over the past decade: we have expanded our investment teams, grown our assets, and broadened our footprint to serve clients in the U.S., Europe, Asia and Australia. In order to further support this growth and our global client base, we are thrilled to welcome Janelle to MacKay,” said Jeffrey Phlegar, Chairman and Chief Executive Officer of MacKay Shields.

“Janelle is a seasoned asset management executive with deep expertise in the global fixed income market,” added Phlegar. “Her investment acumen combined with her prior experience developing and implementing business strategy will no doubt serve as a great complement to MacKay’s existing portfolio management group, which will remain unchanged. We continue to pride ourselves on the long-standing investment autonomy of our investment teams as we deliver investment excellence to our clients across the globe.”

Ms. Woodward joins MacKay after spending more than a decade at BMO Global Asset Management, where she most recently served as Global Head of Fixed Income. Ms. Woodward also served as President and Portfolio Manager of Taplin, Canida & Habacht, LLC (TCH), an independently regulated subsidiary of BMO focused on fixed income strategies and has been an executive sponsor and advocate for diversity and inclusion initiatives within BMO and across the financial services industry.

Ms. Woodward holds an M.B.A. from Kellogg School of Management of Northwestern University, a B.S. in business systems from Taylor University and is a CFA charter holder.

“I’m excited to join MacKay, a distinguished leader in investing, at a time when the asset management industry is rapidly changing and clients across the globe are increasingly seeking new solutions to investment challenges,” said Ms. Woodward. “I look forward to partnering with each of MacKay’s investment teams as well as the global distribution team to continue to strive to deliver the exceptional performance and service our clients expect, while identifying additional ways to align best-in-class capabilities with an evolving industry need.”

About MacKay Shields LLC

MacKay Shields LLC (“MacKay”)*, a New York Life Investments Company, is a global asset management firm with $144 billion in assets under management, as of August 31, 2020. MacKay manages fixed income and equity strategies for high-net worth individuals, institutional clients, and mutual funds with offices in New York City, Princeton, Los Angeles, London and Dublin. For more information visit and connect with us on LinkedIn and Twitter.

*MacKay Shields is a wholly owned subsidiary of New York Life Investment Management Holdings LLC, which is wholly owned by New York Life Insurance Company.

About New York Life Investments

With $600 billion in Assets Under Management* as of June 30, 2020, New York Life Investments is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company (New York Life), and offers clients access to specialized, independent investment teams through its family of affiliated boutiques. New York Life Investments remains committed to clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships.

New York Life Insurance Company (, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States** and one of the largest life insurers in the world. Headquartered in New York City, New York Life Insurance Company’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Insurance Company has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies***.

*AUM includes assets of Investment Advisors affiliated with New York Life Insurance Company as of June 30, 2020. AUM for Candriam and Ausbil is reported at the spot rate.

**Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/18/20. For methodology, please see

***Individual independent rating agency commentary as of 9/12/2019: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+) The financial strength of New York Life Insurance Company applies only to its insurance products and not to investment products which are subject to market risk and fluctuation in value.

“New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.

For additional information, please contact: 

Allison Scott | New York Life |

Kate Sylvester | Sloane & Company |