Investment firm promotes executive

NAPLES — Investment advisor firm Wasmer, Schroeder & Co. has announced that Thomas Richmond will serve as chief investment officer starting April 1.

Richmond previously served as a principal and managing director of the firm. The current president and chief investment officer, Michael Schroeder, will continue to serve as president and will add the title chief risk officer, a newly created position.

The firm added a risk management position at the corporate executive level in response to “rapid growth,” according to a press release.