Thomas Bolger, president and chief executive officer of Racine-based Johnson Financial Group, will step down as CEO at the end of the year.
He will be succeeded by Jim Popp, currently president of Johnson Bank, who has been appointed president of Johnson Financial Group, effective immediately. Popp will become CEO of Johnson Financial Group at the end of the year.
Johnson Financial Group chairwoman Helen Johnson Leipold announced the decision Monday to the company’s 1,200 employees.
“Tom and his team successfully led our company out of the economic recession and helped us work through the market disruption in this industry,” Johnson Leipold said. “Tom has seen us through significant changes and is leaving us better positioned for the future.”
Bolger said after more than 40 years in the industry, he has decided to step down and begin the next phase of his life.
“It has been an honor to work with Helen and all of our associates to build a strong and stable company, together,” Bolger said.
Popp was named president of Johnson Bank and executive vice president of Johnson Financial Group in May after leaving his 29-year leadership role at JPMorgan Chase. During his time with JPMC, he was the president of Chase in Wisconsin and Minnesota and the managing director for Chase Middle Market Banking in Wisconsin.
“It’s a privilege to continue the meaningful work that Tom and the team have started at Johnson Financial Group,” Popp said. “We are in a strong position to grow our business and I’m looking forward to helping our team grows and deepen our relationships in all the markets we serve.”
Johnson Financial Group operates Johnson Bank, Johnson Insurance and Cleary Gull Advisors. The $4 billion financial services company operates in Wisconsin, Minnesota and Arizona.