TMG Financial Services, a sister company to The Members Group, announced that a longtime executive with the firm, Jon Sarvis, will take on the job of CEO.

Sarvis has been with the card issuing and investment CUSO since the beginning, the CUSO announced, most recently serving as CFO.

“It's an exciting time for the future of our company,” said TMG FS Board Chairman, Patrick Jury. “We are fortunate to have a leader within our ranks to become CEO and continue our success.”

“I am very proud of the accomplishments we've achieved as a company and our recognition in the marketplace,” said Sarvis. “With a solid team of professionals committed to serving our partners and our cardmembers, TMGFS will continue to lead the industry with innovative thinking and results.”

TMGFS reported that it has 70,000 cardmembers and $140 million in assets under management.

The organization has been looking for a new CEO since the departure of Jeff Russell in April 2013.