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Newport Beach-based Pacific Life Insurance Co. has promoted Khanh Tran to president, a post that had been held by James Morris, who will remain chief executive and chairman.

Tran had been chief financial officer and chief investment officer.

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He received the Business Journal’s CFO of the Year award in the Private Company category in 2011.

Adrian Griggs will take the chief financial officer role.

Pacific Life sells insurance products and investments and is estimated to have more than $100 billion in assets.

Tran has been at Pacific Life since 1990, starting as treasurer and moving on to become vice president of corporate development in 1995. He was elected a board member and became chief financial officer in 1996. He took on the job of chief investment officer last year.

Tran will continue to oversee financial and strategic planning, as well as Pacific Life’s non-insurance subsidiaries, including the commercial aircraft leasing company Aviation Capital Group.

Griggs joined Pacific Life in 1994 as assistant vice president. He became a senior vice president in 2008. He will lead the company's accounting, audit and tax functions in his new position.