James Lyday was hired as head of institutional retirement solutions distribution at the Lincoln Financial Distributors unit of Lincoln Financial Group, confirmed Eric Samansky, a Lincoln spokesman.
Mr. Lyday replaces Garry Spence, who in January was named head of defined contribution worksite services at Lincoln, Mr. Samansky said in an interview. Mr. Spence retained those duties until Mr. Lyday was hired.
Mr. Lyday will be responsible for leading growth strategies for the distribution of Lincoln’s defined contribution business among employer retirement plans with assets of $25 million or more, Mr. Samansky said.
According to Mr. Samansky, Mr. Lyday most recently had been senior vice president for strategic relationships at Prudential Financial.
Josh Stoffregen, a Prudential spokesman, declined to comment.