In a surprise move Thursday, Trust Company of America announced that Frank Maiorano had resigned as CEO. Maiorano, the Nuveen and Schwab RIA alum, had been with the Colorado-based custodian for just under two years.
“[Maiorano] is recently married and wants to spend more time with his family,” said chief marketing officer Jennifer Nealson, when asked about the reason for the announcement. “He was the external face of the company, which required a good deal of traveling. We’ve had two really good years under his leadership, and the company grew by its highest margin in its history.”
Nealson said board member David Barry, who also has had a consultative role with the company, has taken over as CEO.