NorthStar Financial Services Group has named Jon Baum executive chairman, according to an announcement Monday morning.

Baum will be responsible for setting strategy and focus to help facilitate the continued growth of NorthStar and its subsidiaries. The Omaha-based holding company’s subsidiaries include ETF strategist CLS Investments, mutual fund administrator Gemini Fund Services and Orion Advisor Services, the outsourced portfolio accounting and management service.

Baum has ambitious goals for his new role, which starts immediately.

“The entire industry is in the throes of a seismic digital shift, where access to information is more important than ever before,” Baum said in a statement. “To succeed, companies need to capture market share by breaking down outdated business development methods and transforming them to suit rapidly changing times. NorthStar understands these dynamics, and in turn is paving the way for companies in this industry to adapt their models – whether in asset management, technology or fund servicing – into forward-thinking solutions that fit the end user. I’m honored and excited to be a part of that.”

Baum was previously chairman and CEO of The Dreyfus Corp., a subsidiary of BNY Mellon, where he served on the executive committee of BNY Mellon Asset Management and on the operating committee of BNY Mellon Corp.

Before Dreyfus, he was president and COO at Scudder Investments, a division of Deutsche Asset Management. Before that, he spent nearly 20 years at UBS Financial Services.

Early last year, private equity firm TA Associates bought a majority stake in NorthStar, which services more than $380 billion in assets under management and administration and has more than 740 employees.

M. Roy Burns, a managing director of TA Associates, called Baum a “a highly talented executive with a superb record of success” with working in complex environments. While at Dreyfus, Baum held the role of chairman and CEO of Mellon Bank Securities Corp. and was a key driver in the major re-emergence of the corporation into the retail mutual fund industry.

“We believe his addition to the team will enable NorthStar to accelerate the achievement of its vision and operating and financial goals,” Burns said in a statement. “NorthStar is empowering the growth of the independent advisor and Jon’s appointment is an important example of the increased intellectual capital investment by NorthStar.”

Eric Clarke, CEO of Orion Advisor Services, is also looking forward to Baum’s impact on the company.

“Jon’s experience, passion and capabilities will enhance our leadership team and help us grow NorthStar meaningfully,” Clarke said in a statement. “We’re thrilled to have him on board and are certain that our entire team will benefit from his forward-thinking leadership.”

—Check out PE Firm TA Associates Acquires Majority Stake in NorthStar Financial on ThinkAdvisor.