Securian Financial Group Inc. of St. Paul announced that its board of directors has elected Randy F. Wallake the wealth management firm's president.
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Mr. Wallake, who had been executive vice president, succeeds Robert L. Senkler, who is retaining the posts of chairman and chief executive that he has held since the mid-1990s.
Mr. Wallake has worked for Securian since 1987. He was promoted to executive vice president in 2001 and vice chairman of the Minnesota Life Insurance Co. subsidiary in 2005.
Securian Financial, which announced the promotion on Thursday, has nearly $29 billion of assets under management.
