GoldK, an online retirement plan provider based in Waltham, Mass., has hired John Bosley to head the firms bank channel distribution. Bosley, named a VP and managing diector, will be responsible for developing sales strategies and banking and trust company relationships in the U.S. and abroad, the company said.
The position has been newly created to take advantage of what the company perceives to be a large business opportunity by partnering with banks to offer retirement plans to small business owners, said Bill Benintende, a spokesman for GoldK. Banks account for 15% of the total number of 401(k) plans and 20% of the assets in the marketplace, according to Celent Communications.
"Business owners typically have an abiding relationship with their bank," Bosley said. "They continually look to the bank for solutions beyond their basic financial needs."
Previously, Bosley served as managing partner providing advisory services at Keen Partners, a merchant banking firm that he co-founded in 1986.