Ohio-based American Financial Group (AFG) has appointed John Berding as new president of its subsidiary American Money Management Corporation (AMMC).

Berding will succeed Craig Lindner, who served in that role for over 15 years. Lindner is co-CEO of AFG and will assume the newly-created position of chairman of the board of AMMC.

AMMC provides investment management services to American Financial, its insurance subsidiaries and certain third party investment entities.

Berding joined AMMC as an investment analyst in 1987. He held a number of investment-related executive positions with AMMC and other AFG subsidiaries, most recently serving as executive vice president of AMMC.

Lindner said that John has been a trusted business advisor for almost 25 years, and his talents have been particularly valuable during the last several years as the company successfully navigated through unprecedented turmoil in the financial markets.

"We look forward to John serving in this important position, and are confident that he will continue to contribute significantly to AFG’s successes," Lindner said.