Ascensus Appoints Kevin Cox as Head of Retirement and Peg Creonte as Head of Government Savings

Cox to Succeed Shannon Kelly as Head of Retirement Line of Business


Dresher, PA–Ascensus–whose technology and expertise help millions of people save for retirement, education, and healthcare–is pleased to announce the appointment of Kevin Cox as head of its Retirement line of business. The firm is equally happy to share that Peg Creonte will succeed Cox as head of its Government Savings line of business. Both also will continue to build Ascensus’ reputation as a leading technology services provider, partnering with financial institutions and government entities to support the delivery of tax-advantaged savings programs.

Cox succeeds Shannon Kelly, who recently announced her plans to take a professional sabbatical following an outstanding Ascensus career spanning nearly 20 years.

Cox has served as head of Government Savings for the past two years, and prior to that, spent six years as the business line’s chief operating officer. In his new role, Cox will oversee and drive the strategic direction for Retirement, including Ascensus’ full-service retirement plan recordkeeping and administration, along with its compliance, trust, and education and training functions. Prior to joining Ascensus, Cox spent more than a decade in the retirement industry, with a focus on large institutional 401(k) plans during tenures at MFS Investment Management and CIGNA. He holds a bachelor’s degree in Economics and English from Lehigh University and graduated with honors from the Boston College Carroll Graduate School of Management master’s program.

“Kevin has been a valued member of our Government Savings team since 2004 and has led the business with great success since 2018–growing Ascensus’ share of the 529 college savings market, fostering our leadership role in ABLE accounts, and supporting the launch of the nation’s first three state-facilitated retirement programs,” said David Musto, president and CEO of Ascensus. “With more than 25 years of career experience in both the 529 and retirement markets, he brings the depth and breadth of proven experience and success that our clients have come to expect from Ascensus.”

“Shannon has influenced all aspects of our Retirement line of business–bringing client satisfaction to new heights, overseeing material investments in our market-leading technology capabilities, and transforming service and operations to better serve our clients,” Musto continued. “We thank her for being such a tremendous leader within our organization for nearly two decades and for the legacy that she leaves with us.”

Creonte has served as Government Savings’ senior vice president of business development for the past five years, leading a variety of initiatives to grow the business from both a revenue and client retention standpoint. In her new role, she is now responsible for setting the vision and strategy for Government Savings and charting its course for future growth. Creonte brings more than 25 years of experience in business development and technology to her new role. She joined Ascensus in 2004 on the Unite platform team, managed the development and launch of Ugift (the nation’s first “529 gifting” platform), and oversaw a wealth of large-scale data conversions for recordkeeping transitions. Prior to Ascensus, Creonte served in leadership and consulting roles with several technology firms, including Advanced Micro Devices. She earned her Bachelor of Science degree in Electrical Engineering from Tufts University and her Master of Business Administration from Cornell University.

“Peg is known for her strong leadership, deep technical background, and impressive track record in new business wins,” said Musto. “Her experience in product, platform, and process development–combined with her ability to build meaningful and substantial partnerships and relationships–made her the clear choice to lead our Government Savings business and its growth.”

Cox and Creonte have assumed their new roles immediately, reporting to Musto, with Kelly remaining onboard through the end of May 2020 to support the leadership transition.


About Ascensus
Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. For more information, visit Explore the Ascensus’ latest data and insights on savings behaviors at