Cetera has hired Steve Dunlap, an executive at Bank of New York Mellon's Lockwood Advisors, to replace Barnaby Grist, who is leaving at the end of the month.
Cetera Financial Group on Thursday announced the hiring of Steve Dunlap as executive vice president for wealth management. He will replace Barnaby Grist, who said in March he planned to leave for personal reasons.
Mr. Dunlap joins Cetera from The Bank of New York Mellon Corp., where he served in a dual role as president and chief executive of Lockwood Advisors Inc., the company's retail distribution arm, as well as president of managed investments at the firm's Pershing LLC unit.
“Steve has spent his career delivering financial and technology products and platforms that help advisors better serve their clients,” Cetera CEO Valerie Brown said in a news release. “His extensive experience, proven leadership and entrepreneurial spirit give me confidence he will continue the momentum we've achieved, bringing our advisers the sophisticated tools and resources they need to grow their businesses.”
Before joining Pershing, Mr. Dunlap was president of start-up Finetre Corp., a supplier of software and e-commerce solutions to the RIA and insurance industries.
“Steve has the requisite skillset and experience to add value out of the gate,” Ms. Brown said. “He stands out to us because he fits so well with the Cetera culture.”
“His strength on the technology side and his experience in the wealth management space in particular separated Steve from the many executives we looked at,” she said. “Because we're a three year-old company, being nimble is crucial.”
Mr. Dunlap's background, first as an investment executive, then in the start-up culture, particularly impressed management at Cetera.
Apparently, the admiration is mutual.
“I've been so amazingly impressed with what Cetera is doing,” said Mr. Dunlap. “I've known a number of the executives for years so I knew the heart and soul of the company. It's just an amazing combination of the entrepreneurial start-up world with a company that has real mas and a serious amount of capital behind it.”
“We're pleased with where we are,” Ms. Brown said. “But this is a never-ending journey.”
Mr. Grist plans to leave Cetera at the end of the month.
