New York Life Insurance Co. announced last week that Patricia Spencer Favreau has been promoted to chief marketing officer for the firm's Life and Annuity business. Favreau reports to SVP Ted Mathas, COO for Life & Annuity.

Favreau is not replacing anyone, as this is the first time the firm's life and annuity operations, its largest business unit, will have its own chief marketing officer, according to Marisha Chinsky, a spokeswoman for New York Life. Favreau will now be responsible for product marketing and strategy, marketing and communications services, and business development initiatives.

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