Royal Alliance announced Tuesday that Art Tambaro, the firm’s president and CEO, would retire at the end of the year. Dmitry Goldin, a member of Royal’s senior leadership team for the last decade, will assume the role of President and CEO at that time.
Tambaro (left), 72, told AdvisorOne that he was just “ready to retire.”
Tambaro, when reflecting on his tenure, said, “When I took over from the COO position in 2007, we had our best year ever. We then had the crisis, if you would call it that, and now in 2013 we’re on track to be even better than in 2007. So we’ve come full circle.”
Tambaro’s successor, Goldin, brings over 20 years of experience in the financial services industry to his role, the last 13 at Royal Alliance. He most recently served as senior vice president of business development. He joined Royal Alliance in 2000 as a regional manager and was promoted to a senior management role in 2003. He assumed the business development role in 2009.
“I’m not concerned about the length of the transition, as it’s really been in place for quite some time,” Goldin (right) said. “I’ve worked and traveled with and know him well. That transition has to be in place, and it has to be smooth and seamless, in order to ensure high retention each year, which stands at 97%.”
Tambaro said Goldin’s biggest challenge in assuming the role will be to continue to relate the firm’s message and value position to advisors, specifically surrounding its open architecture and technology, which both men say is a competitive differentiator. Tambaro added that continuing to “raise the bar” with the firm’s performance will also be an ongoing challenge.
Jeff Planty, vice president of operations, will assume the role of senior vice president of business development. The firm says “he will work closely with Goldin to further enhance Royal’s services and support to advisors.”