David Musto will become the chief executive officer of J.P.Morgan Retirement Plan Services (RPS), according to anannouncement Wednesday.

Mr. Musto succeeds current CEO Pamela Popp , who has taken on anew role as Head of Retirement Strategic Initiatives, helping drivethe asset management division's overall retirement growthinitiative. Both Mr. Musto and Ms. Popp report to MichaelFalcon, Head of Retirement at J.P. Morgan Asset Management.

"We have been making steady investments in our RPS, DCIO andother retirement related businesses to support the continued rapidgrowth and innovation we expect in this market, " said Mr. Falcon. "A new generation of retirees is depending on our industry torevolutionize retirement planning and develop new products andservices that meet new market realities and concerns. We arethrilled to have one of the most experienced, talented managementteams in place and this natural progression of leadership will helpaccelerate new initiatives, leveraging the vast capabilities andreach of J.P. Morgan."