LPL Financial, a custodian for registered investment advisors that characterizes itself as the largest independent broker-dealer by revenues in the U.S., reports that David Wright has been named executive vice president, chief technology officer (CTO).
In his newly created CTO role, Wright will report to Victor Fetter, managing director, chief information officer, LPL Financial officials say.
Wright will be responsible for “leading LPL’s efforts to develop and deploy technology solutions with oversight of all infrastructure operations, strategy and architecture, as well as technology security and middleware,” according to the company’s statement.
Prior to joining LPL, Wright served as interim chief information officer at McGraw-Hill, the statement notes. “He was previously with Capital One for nearly 15 years, where he served in a number of roles of increasing responsibility, including senior vice president of technology operations, chief information officer of Capital One’s card division and chief operating officer of Capital One’s European operation. He also has held technology positions at the Federal Reserve Bank of Richmond and AT&T.”
By creating the role of CTO demonstrates LPL’s “continued investment in technology so that we can continue to drive innovation to enhance advisor efficiency and productivity,” Fetter says in a prepared statement.
LPL Financial “provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and more than 700 banks and credit unions,” according to the company statement. “In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,352 employees with primary offices in Boston, Charlotte, and San Diego.”
LPL Financial LLC is a wholly owned subsidiary of LPL Financial Holdings Inc.
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