SAN DIEGO, June 5, 2012 /PRNewswire/ -- LPL Financial LLC, the nation's largest independent broker-dealer* and a wholly owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA), today announced the appointment of Dan Arnold as chief financial officer, effective June 15. In the role of CFO, Mr. Arnold, currently managing director and head of strategy for LPL Financial, will succeed Robert Moore, who was named president and COO on May 1. Following a three-month transition of CFO responsibilities with Mr. Moore, Mr. Arnold will report to Mark Casady, LPL Financial chairman and CEO. Mr. Arnold will be based in San Diego.
"I am very pleased that Dan Arnold will be stepping up to the role of CFO," said Mr. Casady. "Over the course of his 25-year career, Dan built and managed a business, led the integration of that business into LPL Financial, and has taken on leadership of a new department, Strategy, where he has already made a real impact on the way our firm approaches planning for the future."
Before he was named head of strategy in October 2011, Mr. Arnold served as president of Institution Services, the LPL Financial business unit that provides third-party investment and insurance services to more than 750 banks and credit unions nationwide.
Mr. Casady continued, "As the latest step in the realignment of several of LPL Financial's key executive leadership roles, our search for a new CFO led us to interview a number of talented leaders. We looked for a blend of knowledge, energy, and management expertise in an individual who would fit within and contribute to our strong culture. And what this search process clearly demonstrated is that we have in our midst an executive who is ready to take on a new challenge with expanded responsibility."