Transamerica Retirement Services has named Stig Nybo regional vice president, western region. He replaces Barry Tobin, who left the firm to pursue other opportunities, according to a TRS spokeswoman.
Nybo, who will supervise 11 people, will be responsible for the growth and productivity of Transamerica's sales offices in the western region of the U.S., the spokeswoman said.
Nybo most recently served as a sales consultant for Pan American Life.
The U.S. Chamber of Commerce and other business groups contend the Federal Trade Commission has exceeded its authority in nullifying contracts that prohibit employees from switching jobs to competitors.
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The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.
Opponents haven't stated publicly that they will file a lawsuit, but one will almost certainly challenge the Biden administration's expansion of the fiduciary duty.
