Cetera’s Barnaby Grist Leaving BD to Care for Family

“They are all talented, creative and relationship-oriented,” he noted. “We’ve won all sorts of industry awards and increased our assets. Most importantly, our advisors are saying that we’re helping them grow their business on an average of 20%. That’s an indication we’re doing something right.”

When asked about the succession plan, Grist said he will remain with the firm for the “next couple of months to make sure they are up to speed as quickly as possible,” adding that it is working with an executive recruiter.

For cynics who might question the reasons for his departure, and whether he will turn up at Schwab again in a few months, Grist said, “absolutely not, although Schwab is also a great company. I can’t foresee a situation where that would happen. If that we’re the case we would have done this differently. My net worth is still tied up in the company, so I have a real interest in making sure it succeeds.”

Prior to employment with Schwab, Grist served as a consultant with the Boston Consulting Group’s financial services practice. His experience also included a position as an equity analyst in Lehman Brothers’ financial institutions group.

Grist earned a Master of Business Administration degree from Stanford University and he has an undergraduate degree from Oxford University in England. Grist will relocate from San Francisco to Cetera’s headquarters in El Segundo, Calif.