Peter Sims was named national 401(k) sales manager at Lincoln Financial Distributors, confirmed John Kennedy, head of retirement solutions.
Mr. Sims was national sales manager of Lincoln's annuity business, focusing on wirehouse and bank clients.
The position is “an expansion of the previous role held by Paul Swanson (who) will focus full time on working with the field in a divisional sales manager capacity,” Mr. Kennedy wrote in an e-mail response to questions.
Mr. Sims will lead all distribution efforts for 401(k) products that include Lincoln Director, a group variable annuity retirement program, and Lincoln SmartFuture, which offers mutual funds and collective investment trusts, Mr. Kennedy wrote.
Mr. Kennedy added that he plans to expand the 401(k) business sales force by the end of the year by more than 50% from its current level of 16.