We’ve noticed that LPL’s board of directors has been putting a lot of trust lately in some of chairman and CEO Mark Casady’s longest-serving, highest-flying lieutenants.
When the San Diego-based independent broker-dealer announced this week plans to reorganize some of its senior executives around a new subsidiary, LPL New Venture, observers figured a succession plan was in the offing. This blogger already thought something was cooking when, in January, LPL Financial announced plans to buy Fortigent and said it planned to allow the unit to operate with autonomy under the direction of CFO Robert Moore. Robert Moore is now president and COO, and will manage to hold down the CFO job too, while the company searches for a new one.
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