LPL Financial has found its replacement for Dan Arnold.

The company has hired Matthew Audette, a former executive vice president and chief financial officer for E*Trade Financial, to take on Arnold's former role, LPL said in a statement. Arnold replaced Robert Moore as president of the firm back in March.

Audette will be based in San Diego, LPL says, and will report to the firm's chairman and CEO Mark Casady.

"Matt is an expert in capital allocation and is a leader in creating organizational efficiency, which will be invaluable as LPL enhances its client experience and continues its growth trajectory," Casady said in a statement.

Audette has been with E*Trade since 1999, according to his LinkedIn profile. Before that, he spent two years with online banking company, Telebank, where he served as a controller in the firm's capital markets department, LPL says.

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