New York Life announces planned leadership transition within NYLREI
New York Life Insurance announced a planned leadership transition in New York Life Real Estate Investors, the $68 billion real estate investment arm of New York Life.
At the end of June, Managing Director Thomas O’Hanlon will become head of NYLREI when Senior Managing Director Mark Talgo, current NYLREI head, retires. O’Hanlon will continue to serve in his current capacity as head of real estate equity as well. He will report to New York Life Executive Vice President and Chief Investment Officer Tony Malloy and join Malloy’s senior leadership team.
As head of real estate equity, O’Hanlon has been instrumental in growing New York Life’s real estate equity franchise from a primarily West Coast-based advisor to a $10 billion institutional asset manager with national reach. This includes expanding into new investment strategies and regions, creating a third-party business with a multi-investor fund model, and achieving top-quartile investment performance.
O’Hanlon joined New York Life in 2004 as an acquisitions officer. In 2010, when New York Life’s General Account began investing in real estate equity, he helped build NYLREI’s portfolio management and transactions teams, which created a strong foundation for future growth. Over the next decade, O’Hanlon held roles of increasing responsibility, including head of transactions. He became head of real estate equity in 2019.
“Thomas is an approachable and genuine leader who embodies the core values of New York Life. His 30-plus years of real estate experience, coupled with his proven track record and growth mindset, make him well-positioned to guide NYLREI forward. Mark built the NYLREI team to more than 180 employees across five offices, grew the portfolio to $68 billion, and generated significant value for both the General Account and third-party clients. He also played a crucial role in evolving our culture, developing talent, and setting a standard of excellence. While Mark will be missed, I’m grateful for, and proud of, the legacy he has built.” – Tony Malloy, Executive Vice President and Chief Investment Officer at New York Life.
