Investors Capital Holdings has announced that Timothy B. Murphy is its new president and chief executive office. He is also head of the firm's independent broker-dealer and investment advisors - Investors Capital Corporation of Lynnfield, Mass., which has nearly 700 advisors. He was recently elected to these positions by the firm's board of directors.
Theodore E. Charles, who had been serving as president and CEO, will remain chairman of the board. Mr. Murphy is also now president and CEO of the firm's independent broker/dealer and investment advisor, Investors Capital Corporation of Lynnfield, Mass.
"Investors Capital is filled with great people supporting great representatives," says Murphy in a statement. "I thank Ted and the board for giving me the opportunity to lead this firm and I look forward to taking Investors Capital to the next level as a truly premier independent broker/dealer and investment advisory firm. We have the ability to achieve such great things."
Murphy has been a director of ICH since July 1995. A founder of ICH, he also has served as executive vice president, treasurer, and chief financial officer of ICH since its inception, and as president of its subsidiaries, ICC and Eastern Point Advisors, since their respective inceptions. He entered the securities industry in 1991 as an operations manager in the Boston regional office of Clayton Securities.