Scudder Defined Contribution Services, the 401(k) unit of Scudder Kemper Investments, has named its national sales director to be director of client service, a new position.
Scott B. David took the position last week and was succeeded as national sales director by Michael F. Refojo, who had been senior vice president and New York regional sales manager.
Mr. David joined Scudder in 1992 after working as an account manager for Aetna Capital Management. He had been national sales manager since the summer of 1997.
He will oversee new teams that were organized to provide better service to clients.
Mr. Refojo also joined Scudder in 1992, as New York regional sales manager, after having been a vice president of sales for Fidelity Institutional Retirement Services Co.
Scudder Defined Contribution Services, based in Boston, manages $6 billion in defined-contribution assets for more than 900 plans with a total of 400,000 participants.
It targets plan sponsors with $5 million to $250 million in retirement plan assets.
Together with KemStar and Kemper Retirement Plans, two other subsidiaries of parent company Zurich Financial Services Group, Scudder Defined Contribution Services manages $12 billion in retirement assets for 14,000 plans and 650,000 participants.