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March 19, 2015 at 09:32 AM
LPL Financial (LPLA) said Thursday that Chief Compliance Officer Sharyn Handelsman is now a managing director of the company.
“Sharyn has done an outstanding job developing LPL’s compliance function,” said Michelle Oroschakoff, chief risk officer and managing director, in a statement. “Her deep and broad experience in the field has delivered a unique perspective and tremendous expertise to the firm as we build a superior control environment.”
This news follows the March 3 announcement that CFO Dan Arnold was replacing Robert Moore as president of the firm. Moore left to become CEO of Legal & General Investment Management America. This came on the heels of news in late February that the indie broker-dealer planned to spend $9 million to restructure its high-net-worth operations, which do business under the Fortigent brand.
According to LPL, the compliance group “has gained better alignment and become more efficient” under Handelsman’s leadership. The business unit includes over 300 employees, or about 10% of LPL’s workforce. More positions will be added to the group in 2015, “demonstrating LPL’s commitment to protecting its advisors and institutions as well as their clients,” the firm says.
Handelsman joined LPL in 2010 and became head of compliance and brokerage chief compliance officer in January 2014.
