Former Wal-Mart CEO joins P/E firm Solamere

Lee Scott, former Wal-Mart Stores Inc. CEO and president, has joined the private equity firm Solamere Capital as an operating partner and a member of its investment committee.
NOV 10, 2009
Lee Scott, former Wal-Mart Stores Inc. CEO and president, has joined the private equity firm Solamere Capital as an operating partner and a member of its investment committee. Scott will help evaluate investment opportunities and take a key role in aiding growth at Solamere's portfolio companies, according to a release Solamere issued Monday. The equity firm is based in Lexington, Mass. Scott, who retired from the helm of Wal-Mart in February 2009, remains chairman of the low-price retailer's board's executive committee. Scott joined Wal-Mart in 1979 as an assistant director in the logistics division and rose through the ranks, becoming president and CEO in January 2000. Wal-Mart is based in Bentonville, Ark.

Latest News

Osaic reels in LPL team with $2.3 billion in assets
Osaic reels in LPL team with $2.3 billion in assets

Osaic and LPL Financial routinely square off in recruiting advisors from other firms as well as from each other.

RIA moves: Beacon Pointe makes deal hat trick, adding $1.35 billion
RIA moves: Beacon Pointe makes deal hat trick, adding $1.35 billion

Meanwhile, Wealthspire's Ground Control business picks up a $1B private wealth firm in London, and Modern Wealth deepens its presence in California.

Mercer Advisors launches Aspen Investing with in-house direct indexing
Mercer Advisors launches Aspen Investing with in-house direct indexing

The $100B-plus mega-RIA is folding custom portfolios, daily tax-loss harvesting and unified managed accounts into its Aspen advisor tech platform

The most valuable professional development opportunities in independent advisory firms are hiding in plain sight
The most valuable professional development opportunities in independent advisory firms are hiding in plain sight

From using projects as strategic thinking exercises to real-world challenges as problem-solving exercises, indie firms can make for more powerful talent incubators.

Financial services faces highest AI exposure of any sector, BCG finds
Financial services faces highest AI exposure of any sector, BCG finds

New BCG research names financial services among the world's most AI-exposed industries and the US as a top-tier AI economy.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor