Ascensus President David Musto will add the role of CEO to his title, effective Jan. 1, Ascensus announced on Monday.
Bob Guillocheau, currently chairman and CEO of Ascensus, will continue to serve as chairman, the record keeper said in a news release.
Mr. Guillocheau, who joined the company in 2003, has been CEO since 2005. He was named chairman in 2017.
As president, Mr. Musto is responsible for growing the company's existing businesses. He joined Ascensus in 2017 from Great-West Investments, where he was president.
Ascensus had more than $237 billion in assets under administration as of March 31.