Voya Financial Inc. has announced that Charles P. Nelson will be joining the company as CEO of Retirement on May 1.

Nelson, with more than 30 years in the retirement industry, comes to Voya from Great-West, where he was president of Retirement Services through September 2014. Most recently, he led the legacy retirement business of Great-West in Empower Retirement, a business unit of Great-West Life & Annuity Insurance Co.

During his career, Nelson has managed all aspects of defined contribution and defined benefit businesses. He has overseen government, healthcare, nonprofit, 401(k) and FASCore institutional lines of business, while also managing recordkeeping, administration, operations, sales, products, financial results and broker-dealer services.

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At Voya, Nelson will oversee Tax-Exempt and Corporate Markets and Retail Wealth Management, which comprise the company's workplace and individual retirement businesses, including 401(k), 403(b) and 457 plans, and IRAs. He will report to Alain Karaoglan, Voya Financial's chief operating officer, and join the company's executive committee.

Carolyn Johnson, president of Tax-Exempt Markets; Richard Linton, president of Large Corporate Markets and Retail Wealth Management; and Richard Mason, president of Small/Mid Corporate and Institutional Investment Markets will report to Nelson.

In addition, the company's Investment Management and Retirement businesses will become more closely aligned, with Karaoglan serving as CEO of Retirement and Investment Solutions, in addition to his COO responsibilities. Jeffrey Becker, CEO of Voya Investment Management, will continue to report to Karaoglan. Johnson will also report to Karaoglan in her role as president of Annuities.

In 2014, Voya's Retirement segment accounted for roughly 40 percent of the company's operating earnings.

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