NU Online News Service, May 16, 2:57 p.m. – American Express Financial Advisors Inc., Minneapolis, has named Ward Armstrong president of American Express Asset Management Group Inc., an institutional investment unit that manages $32 billion in assets.

Armstrong has been the interim president of the asset management unit for about a year. Armstrong succeeds Steve Roszell, who was promoted to senior vice president of AEFA’s institutional business.

Armstrong has also been president of another AEFA unit, American Express Retirement Services, since 1996. He will continue to keep that title, AEFA says.

AEFA is a subsidiary of the American Express Company, New York.