Lenox Wealth Management, the Cincinnati-based wealth manager, has appointed Jay Hummel as president.

Hummel was previously the chief financial officer at the firm and in his new role will assume the day-to-day responsibilities for the management of Lenox Wealth. Prior to Lenox, Hummel worked for Deloitte & Touche and Ward Financial Group. John Lame, the company's founder, will remain as chairman and chief executive.

Lenox Wealth Management provides financial planning, wealth management and family office services to high net worth individuals and their families. It provides advice on some $1.3 billion in client retirement assets with approximately $600 million in assets under management.