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LPL Financial Names Donie Lochan Executive Vice President of Business Technology Services
- IT Industry Veteran to Lead Business Technology Services Group's Risk Management, Audit Compliance, Business Continuity and Information Security Functions -
|By PR Newswire
|January 7, 2013 09:16 AM EST
SAN DIEGO, Jan. 7, 2013 /PRNewswire/ -- LPL Financial LLC — the nation's largest independent broker-dealer*, a leading RIA custodian, institutional service provider and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA) – announced today that Donie Lochan has joined the Company as Executive Vice President of Business Technology Services (BTS), effective immediately.
Mr. Lochan will be based in San Diego and report to Victor Fetter, who recently joined LPL Financial as Chief Information Officer (CIO) and Managing Director of BTS.
Mr. Lochan will provide stewardship over the BTS portfolio by facilitating strong governance and world-class operational excellence. In addition, he will be leading BTS risk management, audit compliance, business continuity and disaster recovery planning, and information security. Mr. Lochan will also play an instrumental role in shaping and implementing the company's comprehensive roadmap for expanding its technological capabilities as it reinvests in technology as an enabler of business value.
Mr. Lochan has over 21 years of experience in business technology and financial services. He joins LPL Financial from Bain & Company where, as a partner in its Global Financial Services Practice, he was the regional leader of its Asia Pacific IT Services unit. In that role, he was instrumental in developing growth and transformational strategies and solutions for major financial institutions. Prior to his tenure at Bain, Mr. Lochan was a vice president and partner at Ernst & Young, where he served as the global head of its wealth management practice and helped leading companies in North America, Europe and Asia to increase their profits and reduce costs by aligning their investments in business and technology.
Mr. Fetter, CIO, said, "I am extremely pleased to have Donie join me and the BTS leadership team as we embark on the enhancement and expansion of LPL's information technology platform and capabilities. Donie's depth of operational and strategic experience will make an invaluable contribution, especially for our advisors and institutions that rely on us to provide them with technology service and solutions to best serve their clients."
Mr. Lochan added, "I am excited and enthusiastic about joining LPL Financial at this pivotal moment as it pursues an intensive program of technological transformation across its rapidly growing organization. I look forward to joining a strong and talented team and in supporting LPL Financial advisors and institutions within an ever evolving technological environment and financial services marketplace."
Mr. Lochan received a Bachelor of Science degree in Mathematics/Statistics and Computing with First Class Honors from the University of Greenwich/Kings College, England, in 1990, where he received the IBM award for outstanding academic achievement.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2012), a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers integrated technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 13,100 financial advisors and approximately 685 financial institutions. In addition, LPL Financial supports over 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,900 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
LPL Financial. A Registered Investment Advisor. Member FINRA/SIPC.
*Based on total revenues, Financial Planning magazine, June 1996-2012
This press release may contain forward-looking statements that involve risks and uncertainties, including statements regarding expected changes in senior management positions, future technology enhancements and releases, improvements to the services offered to advisors and institutions, and other matters. The words "anticipates," "believes," "expects," "may," "plans," "predicts," "will" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees that the future results, plans, intentions or expectations expressed or implied by LPL Financial Holdings Inc. (the "Company") will be achieved. Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause actual financial or operating results, levels of activity, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. Important factors that could cause or contribute to such differences include: the Company's success in developing and implementing its technology transformation plans and initiatives, the Company's success in attracting and retaining information technology personnel; effects of competition in the financial services industry; changes in the number of the Company's financial advisors and institutions, and their ability to market effectively financial products and services; the Company's success in negotiating agreements with current or additional technology vendors; the Company's success in integrating the operations of acquired businesses; the effect of current, pending and future legislation, regulation and regulatory actions; and the other factors set forth in Part I, "Item 1A. Risk Factors" in the Company's 2011 Annual Report on Form 10-K. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on those statements as representing the Company's views as of any date subsequent to the date of this press release.
SOURCE LPL Financial LLC
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