LPL is establishing its own lobbying force in Washington. The largest independent broker-dealer said Wednesday that it has hired Nicole S. Petrosino to head LPL’s new Washington office.
Petrosino, who will join LPL’s Government Relations team as vice president and head of federal government relations, will spearhead the indie BD’s legislative and regulatory efforts.
LPL announced the same day that John R. Cronin will become vice president and head of State Government Relations. Cronin will lead the firm’s state government relations strategy, developing and maintaining relationships with the 50 states. He will be based in Boston.
Mark Casady, Chairman and CEO of LPL Financial, said in an emailed message to ThinkAdvisor that “as the regulatory environment continues to evolve, it is crucial that independent advisors and the millions of investors they serve have a voice in the policy discussion at the federal and state level. Bringing in Nicole and John is the next step forward in our efforts to meet that urgent need.”
Petrosino most recently was vice president at MasterCard’s Office of Government Relations, where she managed legislative strategy and congressional relationships for the firm. Previously, she was director of government relations at TIAA-CREF from 2009 to 2012.
Prior to her time at TIAA-CREF, Petrosino was a senior community management officer at the Office of the Director of National Intelligence, a staff member in the Legislative Management Office at the Department of State as well as the director of correspondence in the Office of Legislative Affairs at the White House.
She earned a bachelor of arts in politics, magna cum laude, and a master of arts in international affairs from Catholic University.
Cronin joined LPL in March as a supervision manager with a strong background in financial services and regulatory policy. Previously, he was employed by the Vermont Department of Financial Regulation from 2001 to 2014, including serving as the securities director from 2008 to 2014. Cronin also previously worked as a financial advisor.
Cronin earned a bachelor of science in business management and a professional certificate in financial accounting from Champlain College.
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