Sales Efforts Complicated by Layoffs, Management Turnover, Bond Losses

Claire Huang, the new chief marketing officer at American Express Financial Advisors, already faces a trio of significant hurdles -- layoffs, management turnover and huge bond losses. Since last summer, the adviser unit has been breaking in a new CEO, a new chief investment officer and a new chief marketing officer. And now with the departure of Stuart Setlacek last week after losing more than $400 million in junk bond investments, it's looking for a new chief financial officer.

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