Charles P. Nelson was named CEO of retirement for Voya Financial, effective May 1.
Maliz Beams had been CEO of Voya’s retirement solutions business, but she resigned Oct. 15. Rodney O. Martin Jr., chairman and CEO of Voya Financial, assumed her responsibilities. Joseph Loparco, a Voya spokesman, said in an interview Monday that Mr. Martin had only planned to take on the role temporarily.
Mr. Nelson will oversee tax-exempt and corporate markets and retail wealth management, which includes the company’s workplace retirement businesses. He will report to Alain Karaoglan, executive vice president and chief operating officer, and join the company’s executive committee.
“Broadly speaking, this is very familiar territory,” Mr. Nelson said in an interview. “Voya is in all market segments. It’s exciting positioning.”
Mr. Nelson, who will be based in Windsor, Conn., had been president of Great-West Retirement Services from 2008 through the fall of 2014. Great-West Retirement was combined with the retirement business of Putnam Investments and the record-keeping business of J.P. Morgan Asset management to form what is now Empower Retirement.
Edmund F. Murphy III, a former Putnam retirement business executive, was named president of Empower Retirement in September.
After the combination, Mr. Nelson held the job of executive vice president for small to midsize corporate retirement plans, government retirement plans and private-label record keeping, Jon Goldstein, a spokesman for Empower, said in an interview. After Mr. Nelson departs, he will not be replaced, Mr. Goldstein said.
In 2014, Voya’s retirement segment accounted for approximately 40% of the company’s operating earnings, a news release said.