LPL Financial has named Chris Feeney as chief information officer. He reports to Esther Stearns, president and COO, and is responsible for overseeing the firm's business-technology services organization, which supports the work of some 11,000 advisors, 800 institutions and 2,600 employees. LPL Financial advisors have some $235 billion in client assets under management.
Feeney was most recently global managing director of wealth management at the information-services firm Thomson Financial, and was also CEO of Telerate, helping to sell the company to Reuters in 2004.
"Chris is a recognized leader in his field and an outstanding addition to the Business Technology Services organization, as well as the LPL Financial executive management team," says Stearns. "He comes to us with an exceptional background in technology, product, and service management within the financial-services industry, and the breadth and depth of his experience will enable LPL Financial to continue to enhance our technology offerings and support to our advisors and their clients."
"As the financial services industry evolves and becomes more complex, technology plays an increasingly important role in helping financial advisors to serve their clients," shares Feeney. "I look forward to working with my new colleagues at LPL Financial to deliver the support advisors need to streamline their business so they can focus their time and attention on providing unparalleled investment advice to their clients."
In addition to working at Thomson Financial and Telerate, Feeney has worked for web-hosting and services firm Multex, Banc of America Securities and ADP Brokerage Services Group.
"I've spent a lot of my career on the vendor side, in addition to being on the internal side, and this gives you more exposure to the market and the various ways to apply technology to move the business forward," says Feeney. "I also have the advantage of seeing multiple ways to resolve issues, whatever the problem is, and that should be really unique and helpful to LPL. We can get the right choices made."
The new CIO has also been through a number of mergers and acquisitions, which is a key growth strategy for LPL Financial. "I've seen first-hand how Montgomery Securities, Nation's Bank and Bank of America grew themselves in this context," he says, "and how an entrepreneurial firm like Multex grew, kept the entrepreneurial spirit and expanded the operating platform to support the business."
Janet Levaux is the managing editor of Research; reach her at email@example.com.