Univest Corp. of Pennsylvania in Souderton will start next year with a new chief executive.

William Aichele will retire as CEO on Jan. 1, the $2.2 billion-asset company announced Wednesday. Jeffrey Schweitzer, Univest's president, will assume the CEO role at that time.

Aichele, 62, has spent 42 years with Univest and has been president and chief executive since 1999; he was named chairman in 2005. He will remain chairman following his retirement as CEO.

Schweitzer, 39, was promoted to president from chief financial officer at the beginning of this year and has been with Univest since 2007.

K. Leon Moyer, 62, will remain vice chairman of the board and president and CEO of Univest Bank and Trust Co., the company's banking unit.

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.