Search firm Spencer Stuart announced Ben Williams and David Daniel assumed the roles of CEO and chairman, respectively, with the start of the firm’s fiscal year on Oct. 1.

Williams succeeds former CEO Kevin Connelly, who served two three-year terms as CEO after previously spending six years as Spencer Stuart’s chairman. Daniel succeeds Edward Speed, who held the chairman role for two three-year terms; Speed previously led Spencer Stuart’s EMEA board and CEO practice, focusing on CEO search and succession.

Williams most recently led Spencer Stuart’s North American business and previously led its financial services practice in North America. Before joining Spencer Stuart in 2010, Williams was president of the investment banking and capital markets broker-dealer of Wachovia, the nation’s fourth-largest banking institution at the time.

Daniel most recently was head of Spencer Stuart’s private equity practice; he previously was CEO of the firm from 2001 to 2012.

Staffing Industry Analysts ranks Spencer Stuart as the third-largest retained search firm in the US with $260 million in 2017 US retained search revenue.