Rampaging elephant smashes up house but then ‘saves crying baby trapped under debris’.
LPL, one of the fastest-growing U.S. broker-dealer, has terminated employment agreements for its top executives but sweetened some of their benefits, according to a regulatory filing. LPL’s decision to eliminate employment contracts for Chairman and Chief Executive Mark Casady, President Robert Moore and Chief Financial Officer Dan Arnold as of Feb. 24 had nothing to do with executive performance, but was meant to align the firm “more closely with market practices.”
The investment manager hired Kevin Afnan as a senior director for business development in BNY Mellon Wealth Management’s Cleveland and Columbus offices. Before joining the firm in January, Afnan worked with RS Investments as a regional vice president of sales for the Ohio and Michigan markets.
The firm also appointed Kristofer Reddaway as senior director for business development in BNY Mellon Wealth Management’s Newport Beach office. Prior to joining the firm in February, he was executive managing director and founding partner of Newport Beach-based Capstone Financial Group, where he specialized in helping affluent clients build and manage wealth plans.
The investment management company appointed Simon Pardoe as head of defined contribution (DC) proposition to develop bundled and investment-only UK workplace DC services for employers and their employees. Pardoe joins from Legal and General.
The asset manager added a new member to its North America institutional sales team, naming Brian Burke the vice president of institutional business development and consultant relations. Before this, Burke was director of institutional sales and consultant relations at Monarch Partners.