KMS Financial Services Inc. has named Eric Westberg chairman and CEO.

Westberg is succeeding Mark Hamby, who is retiring after holding that role for 19 years. Westberg previously was president and COO of the company.

Tracy Forsythe was appointed president and chief legal officer and Aileen Krohn will become executive vice president of the company. Forsythe previously was chief compliance officer, while Krohn previously was managing director of operations.

The appointments will be effective Jan. 1, 2017.

Ladenburg Thalmann Financial Svcs Inc. acquired KMS Financial Services in October.