Lynne Ford was named president and CEO of ICMA-RC effective Nov. 4, the non-profit financial services corporation for public sector retirement plans said Monday.
Ms. Ford succeeds Robert Schultze, who is retiring after having held the president and CEO jobs since February 2015, an ICMA-RC news release said. Washington-based ICMA-RC manages and administers about $57 billion in assets for retirement plans with more than 1.4 million public sector participants.
Ms. Ford had been an executive vice president and division executive for SunTrust Bank's private wealth division, "where she led a team delivering wealth management and retirement products and solutions to clients," the news release said.
Brian Boudreaux, a spokesman for the Atlanta-based SunTrust Bank's private wealth management division confirmed in an email that Ms. Ford had been a division executive. He declined to comment on her duties or if a successor will be named.
"Lynne brings a passion for helping Americans build retirement security, exceptional in-depth knowledge of the retirement industry, a history of commitment to diversity and inclusion, as well as a focus on innovation," Peggy Merriss, ICMA-RC's board chairwoman, said in the news release.
When Mr. Schultze became president and CEO, he agreed to hold the jobs through 2019, giving ICMA-RC's board "ample time for a thorough and comprehensive national search," Ms. Merriss said. “The recruiting process we planned took about six months and Lynne Ford’s exceptional background and achievements made her the right choice to lead the corporation.”
Mr. Schultze will remain with ICMA-RC as president and CEO emeritus through the end of 2019 to assist in the leadership transition, the release said.