David L. Musto was named president of Great-West Investments, a new unit of Great-West Financial that combines the firm’s investment and retirement income activities.
Effective immediately, Mr. Musto will oversee all aspects of Great-West Investments, which brings together the firm’s Great-West Funds platform, capital preservation products, stable value, general account, managed account and retirement income capabilities, Mr. Musto said in a telephone interview.
Assets under management and supervision for the unit total about $85 billion.
Mr. Musto reports to Robert L. Reynolds, president and CEO of Great West-Financial.
Previously, Mr. Musto was an executive vice president for Empower Retirement. He has been replaced internally, Mr. Reynolds said.
Empower was formed in 2014 through the merger of Great-West Retirement Services, the retirement business of Putnam Investments and J.P. Morgan Retirement Plan Services.
