Grabbing a top executive from one of the world's premier technology companies, LPL Financial has nabbed a top technology officer from Dell Inc. to help lead the independent broker-dealer's technology effort.
Victor Fetter, Dell’s former chief information officer, is joining LPL Financial this month as chief information officer and managing director of the company’s Business Technology Services business unit.
Fetter’s accomplishments include delivering robust, personalized digital experiences and end-to-end technology solutions for consumer and commercial customers, according to LPL.
“Hiring a CIO of Victor’s caliber is an indicator of our strong commitment to investing in solutions and capabilities that differentiate our technology platform in the marketplace,” Mark Casady, LPL’s chairman and CEO, said in a statement, “and of the enhancements we are making to improve service delivery and execution for our employees and customers alike.”
In the same statement, Fetter said, “Having led multiple IT transformations to adapt technology to new business demands, I look forward to applying these experiences to a new and distinctive set of challenges and opportunities at LPL Financial.”
In his new role, Fetter will build upon the technology foundation laid by Chris Feeney, the company’s current CIO. Following the conclusion of a transition period over the next several months, Feeney has decided to retire after five years of service with LPL Financial and more than 30 years in the financial services technology industry, the firm said.
“With Chris’s help, our technology transformation is underway and the roadmap is drawn for our next steps forward,” Casady said. “We are grateful for Chris’s years of service and contributions to the success of our firm and wish him well in the next phase of his life.”
The evolution of the LPL Financial technology platform is intended to help to enhance the services the company offers the advisors and institutions it serves. There will be no impact to the timing of scheduled technology releases as a result of the transition.
“Our ability to attract an executive such as Victor speaks to the strength of our firm’s reputation,” Casady said. That reputation, he said, is based on the attractiveness of the LPL mission and business model, and its powerful opportunities for growth as a leader in the financial services industry.
Since 2007, Fetter has been instrumental in delivering global solutions for Dell's consumer and commercial customers. Prior to his time at Dell, he served as the global CIO at Mercer Human Resources Consulting.
Fetter’s other accomplishments include driving IT efficiency with a focus on increased innovation; delivering highly scalable infrastructure solutions; and enhancing sales and corporate systems, including the architecture of global online, mobile and social commerce capabilities, according to LPL.
“I am thrilled to be joining LPL Financial, and I look forward to working with Chris and the many talented members of the BTS team to reinforce and extend the company’s technology leadership and overall competitiveness in the financial services space,” Fetter said.
Fetter will be based in Charlotte, reporting to Casady. He will also serve as a member of the firm’s Executive Management Committee.