Jonathan de St. Paer was named president of Charles Schwab Investment Management and will become CEO of the firm on March 31.
He will replace Marie Chandoha, who held both roles but will retire as CEO at the end of March, according to a statement from CSIM.
Mr. de St. Paer was senior vice president, strategy and product, at CSIM. A decision on his replacement will be made in the coming months, a CSIM spokeswoman said.
Under Ms. Chandoha, Charles Schwab Investment Management's assets under management have grown to $362 billion as of Aug. 31 from $197 billion in September 2010, according to the statement.