Schwab nabs Putnam's Carney as branch network boss

Schwab nabs Putnam's Carney as branch network boss
Schwab nabs new branch network boss in Jeffrey Carney
JUN 01, 2012
Jeffrey Carney, a senior managing director of marketing at Putnam Investments, will be taking over as head the branch network for the Charles Schwab Corp. Mr. Carney will start at the end of the month and will report to Andrew Gill, co-head of Schwab Investor Services, Schwab spokesman Michael Cianfrocca wrote in an e-mail. Reuters reported the change Friday. Mr. Carney will be taking over for Lisa Kidd Hunt, who will be "taking on some different responsibilities," Mr. Cianfrocca said. Last month, Mr. Gill and John Clendening took over as co-heads of Schwab's individual investor business when Benjamin Brigeman left that post for personal reasons. Schwab has about 300 retail branches nationwide. Separately, in December, the firm opened its first franchised branch office. The company plans to open about a dozen more independently-owned branches this year. Mr. Carney will not have responsibility for the franchised outlets, Mr. Cianfrocca said.

Latest News

No succession plan? No worries. Just practice in place
No succession plan? No worries. Just practice in place

While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.

Research highlights growing need for personalized retirement solutions as investors age
Research highlights growing need for personalized retirement solutions as investors age

New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.

Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones
Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones

With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.

Insured Retirement Institute urges Labor Department to retain annuity safe harbor
Insured Retirement Institute urges Labor Department to retain annuity safe harbor

A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.

LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors
LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors

"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.