Kenneth J. Munro III was named to a new role as national sales director for the company's core market business segment, which focuses on adviser-sold retirement plans with under $50 million in assets.
Mr. Munro's appointment is effective immediately, Empower said Thursday in a news release.
In his new role, Mr. Munro will lead a team that includes regional vice presidents and sales professionals, Empower said. He will report to Joseph Smolen, senior vice president for Empower's core market segment.
Mr. Munro was previously vice president for sales strategy and prior to that was a regional vice president where he covered the western U.S. He joined Empower in 2006.
The new position was created in response to the growth of the record keeper's adviser-sold business following its recent acquisition of MassMutual's retirement plan business, which boosted Empower's record-keeping assets to about $884 billion, the news release said.
The new role is designed to better align the core market segment and enhance Empower's service to clients and advisers, said Richard Linton, Empower's executive vice president for group distribution and operations, in the news release.
"Ken is a dynamic leader who has been instrumental in helping to propel the growth of Empower's core market through his ability to develop superior sales teams and deliver tangible results," Mr. Linton said.