Anant Bhalla was named corporate treasurer and head of risk management by Lincoln Financial, a Radnor, Pa.-based insurer and investment manager with $9.8 billion of 2008 revenue. Bhalla joins Lincoln from Ameriprise, where he was responsible for treasury and enterprise risk management.

Flowserve, a $4.4 billion company that provides flow control products and services, has created an Office of the CFO to handle the responsibilities of the chief financial officer. The office is composed of Richard Guiltinan, Flowserve's vice president of finance and chief accounting officer, and Dean Freeman, its treasurer and vice president of finance. Dallas-based Flowserve's previous CFO, Mark Blinn, was named president and CEO in October. Guiltanan, 55, has served as the company's principal accounting officer since 2004. Prior to joining Flowserve, he was CFO of Caltex Corp. Freeman, 45, joined Flowserve in 2006 and was named treasurer in May. Prior to joining Flowserve, he was CFO of European operations for Stanley Works.

Robert Sullivan has been appointed CFO and senior vice president of Textron Systems, a unit of Textron Inc. that provides aircraft systems and other technology to the defense and aerospace communities. On Jan. 4, he will succeed John Condon, Textron Systems' senior vice president of finance, who is retiring. Sullivan, 47, has worked at Wilmington, Mass.-based Textron Systems for 25 years and most recently served as vice president of finance and administration at Textron Defense Systems.