LPL Financial nominated Anne Mulcahy, former chairwoman and CEO of Xerox Corp. to join its board of directors.

If approved by stockholders at LPL’s annual meeting in May, Mulcahy will also serve on the board’s audit committee, the company announced Monday.

“We’re delighted to welcome Anne to our Board of Directors, and we look forward to having an independent director with her stature and experience strengthen our Board and broaden our perspective on management and leadership,” said Mark Casady, chairman and CEO of LPL Financial. “As we continually evolve and enhance the governance of our firm, we look forward to LPL Financial benefiting greatly from Anne’s ability to identify potential issues before they arise and suggest policies and processes that will strengthen our Company over the long term."

Mulcahy was CEO of Xerox from 2001 to 2009, and chairwoman of the company from 2002 to 2010. She is currently a member of the board of director at Johnson & Johnson, Target Corp., and The Washington Post Co., and is chair of the board of trustees for Save the Children.

“I was immediately drawn to this opportunity with LPL Financial because the company is a true industry innovator with all of the attributes necessary to continue to grow and redefine the financial services space,” Mulcahy said. “I look forward to contributing my corporate leadership experience as LPL Financial continues to define best practices in a business that carries great responsibility--primary among those being protecting and growing the financial assets of mainstream individual investors.”