Pacific Life executive jumps ship

Another top executive has walked away from the Pacific Select Group LLC, the soon-to-be-dismantled broker-dealer network of Pacific Life Insurance Co. of Newport Beach, Calif. Peter Deering, senior vice president, is leaving today. Earlier this week, in a note to reps and advisers he said that he was taking time off to travel before taking his next job in the financial services industry. Linsco/Private Ledger Corp. of San Diego and Boston said in March it was acquiring three of the Pacific Select broker-dealers. In the months leading up to that deal, the chief executives of each of those firms -- Mutual Service Corp. of West Palm Beach, Fla., Associated Securities Corp. of El Segundo, Calif., and Waterstone Financial Group of Itasca, Ill. -- resigned. In his message, Mr. Deering stressed his pride in the Pacific Select Group. "During my tenure, we were able to build the Pacific Life broker-dealer network into an industry leader and I feel proud to have been part of its growth and success," he wrote.