Jay McAnelly has been promoted to president and CEO of third-party marketer IPI in San Antonio, Texas.

Scott Barnes, who previously occupied that role, is now chairman, a new position. Under the realignment, McAnelly, formerly executive vice president and national sales manager, will continue to grow the firm’s brokerage business, primarily focused on community banks. Barnes’s new role is to expand IPI’s product suite to help community banks build and manage trust operations, as well as managing banks’ bond and fixed-income portfolios through its $1.5 billion bond desk.

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