Cetera Financial Group has restructured its board of directors. The move comes three months after the broker-dealer group, which has about 8,000 affiliated independent advisors, sold a stake to Genstar Capital.
The new board members include Ben Brigeman, a former Charles Schwab executive vice president of retail investor services; Hal Strong, former vice chairman, COO and CFO of Russell Investments; and Gary Michel, former CFO of TravelClick and Register.com. All three are members of Genstar’s strategic advisory board.
Two Genstar executives and Cetera CEO Robert “RJ” Moore also are on the board.
“For the advisors we serve and the clients they support, each of our new board members shares our commitment and passion for delivering on our vision of the Advice-Centric Experience, a model for the future of professional financial guidance that places the focus squarely on advice, as opposed to products or sales,” according to Moore.
“We look forward to continuing to expand our board with additional professionals of the highest caliber of skills and expertise in the future,” he added.
The execs joining from Genstar are Managing Director Tony Salewski, who earlier served as chief of staff for Barclays Global Investors, and Vice President Sid Ramakrishnan, who also worked at AssetMark and Morgan Stanley.
“In Ben Brigeman, Gary Michel and Hal Strong, the board includes a trio of highly experienced leaders with decades of combined expertise in guiding financial services companies toward the successful realization of their strategic growth goals,” said Genstar Managing Director Tony Salewski, in a statement.
“Genstar takes a unique, long term growth-oriented approach to its investments in the financial services sector, and the composition of the new Cetera board fully reflects that perspective,” he said.
Cetera Financial Group is a network of independent broker-dealers: Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage Services.