National Financial Partners (NFP) has named Douglas Hammond chief executive officer.
Hammond succeeds Jessica Bibliowicz, who is stepping down after serving as CEO since joining the firm in 1999. She has also served as chairman of the firm for the past 10 years.
Hammond, with NFP for the past 14 years, most recently served as chief operating officer and president. Prior to NFP, he was an attorney with the law firm Dewey & LeBoeuf LLP, where he specialized in corporate insurance and regulatory matters.
NFP, a provider of benefits, insurance and wealth management services, has entered into an agreement with private equity investment firm Madison Dearborn Partners (MDP), under which MDP will acquire NFP. Bibliowicz will remain on the NFP board as non-executive chairman until the close of the transaction with MDP.