Lawrence Hilsheimer was named president and COO of Nationwide Retirement Plans, confirmed Joe Case, a spokesman for Nationwide.
Mr. Hilsheimer replaces Anne Arvia, who swaps jobs with Mr. Hilsheimer, becoming president and COO of parent Nationwide Mutual Insurance's direct, affinity and growth solutions business — direct property and casualty sales, specialty insurance, affinity partnerships and veterinary pet insurance.
The job switches are effective immediately, Mr. Case said in an interview.
The changes are part of the company's strategy of “developing leadership talent for the future,” Mr. Case said. The goal is to give top executives exposure to different parts of the Nationwide's various businesses, he said.
Nationwide had $80.3 billion in record-kept defined contribution assets at the end of 2011, according to Pensions & Investments data.