Kent Olin, president and chief executive officer of Affiliated Bankshares of Colorado Inc., Denver, said he plans to retire next year when he turns 62.

To ensure an orderly transition, Affiliated chairman Ron Moore will assume the additional posts of president and chief executive officer at the bank holding company on Jan. 1. On that date, Mr. Olin will become vice chairman and remain a director of the holding company, which owns the 27 Affiliated National Banks in the state.

"It has always been my goal to retire at 62," Mr. Olin said. "But after 21 years with Affiliated, it would be difficult for me to step away entirely, so I'm very pleased to be able to remain involved with the company.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.