The mutual fund servicing unit of First Data Corp. said it has promoted a veteran executive to president.

James L. Fox has been with Westborough, Mass.-based First Data Investor Services Group for 10 years. He will remain chief operating officer, a spokeswoman said.

He succeeds Jack P. Kutner, 41, who resigned last week to pursue personal interests. He will continue to work with First Data as an adviser, focusing on client relationships and business strategies.

First Data Investor Services administers more than $850 billion of assets. Its parent provides transaction processing services and is based in Atlanta. - Cheryl Winokur

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