Invest Financial Corp., which markets investment products through nearly 500 banks, announced Friday that it had revamped the roles of its top two executives.
Merlin R. Gackle, chairman and chief executive of the Tampa unit of First American Corp., will focus on seeking out acquisitions and strategic alliances.
He is handing off oversight of day-to-day operations to Thomas E. Gunderson Sr., the company's vice chairman. Mr. Gunderson is to assume the additional titles of president and chief operating officer.
Mr. Gunderson had been chief executive of Investment Centers of America, Bismarck, N.D., which Invest acquired in March concurrently with its own acquisition by First American.
"Integrating Tom's management expertise into the top ranks of Invest allows us to make the best use of our joint strengths," Mr. Gackle said.
First American, a Nashville banking company, paid $26 million for the two investment marketing firms.