Industry

In its attempt to deliver additional quality buy-and-hold alternative investments to investors, Direxion has hired Edward Egilinsky as managing director, head of alternative investments.

HighTower Advisors continues its roll-up expansion strategy with the hiring of Greycourt & Co. financial advisor Margaret M. Towle, who previously oversaw $1 billion in client assets.

In its attempt to deliver additional quality buy-and-hold alternative investments to investors, Direxion has hired Edward Egilinsky as managing director, head of alternative investments.

Raymond James & Associates has snapped up a father and son Bank of America Merrill Lynch financial advisor team who previously oversaw $114 million in client assets.

Ladenburg Thalmann Financial Services will acquire Securities America, the embattled, independent broker-dealer subsidiary of Ameriprise, for an initial payment of $150 million in cash, according to a company statement released Wednesday morning.

The securities industry added 4,000 jobs across the United States in the second quarter, according to the Securities Industry and Financial Markets Association.

Broadridge has named Stefanie Shelley, a longtime financial services marketing veteran, chief marketing officer. Shelley had been a marketing consultant for the firm since August 2010.

Effective Sept. 30,Michael Kiley will become chief executive officer of Security Benefit Corp. He replaces Howard Fricke, who has been serving as interim president and CEO since February 2010 and was previously president and CEO of the firm from 1988 to 2000 and chairman from 1996 to 2006.

Fidelity Investments has promoted Derek L. Young from chief investment officer to president of the asset allocation division. He succeeds Boyce L. Greer, who recently became head of institutional investments for Fidelity Asset Management and vice chairman of Pyramis Global Advisors. Young now reports to Greer.

Benjamin F. Edwards & Co. has opened a new office in Red Bank, N.J., giving the three-year-old brokerage firm a presence in 12 states.