Jason Zenk was named CEO at Marco Consulting Group, according to Jack Marco, co-founder and chairman of the firm.
Mr. Marco had been both chairman and CEO since the 2011 departure of Russell Campbell as CEO.
The appointment was made as part of an employee buyout at the multiemployer pension fund consultant, with 26 employees now owning 49% of the firm; Mr. Zenk will hold the largest stake, Mr. Marco said in an interview. Mr. Marco and Tom Mitchell, co-founder and vice chairman, will now own 51%.
Messrs. Marco and Mitchell will be “actively engaged” at the firm through 2017, when their ownership stakes will be offered to the employee owners for purchase, Mr. Marco said. It’s not definite that he and Mr. Mitchell would retire at that point, but he said he wanted to commit to the firm and its clients for five more years.
Previously, Messrs Marco and Mitchell owned 82% of the firm, with 17 employees owning the remaining shares.
Mr. Zenk was executive vice president and senior consultant at the firm; he will retain his previous duties.
Marco Consulting has $127 billion in assets under advisement.