AIG Advisor Group continues to play a game of musical chairs with the heads of its various broker-dealers, this time replacing James Cannon with Jeffrey Auld, who becomes president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
AIG Advisor Group continues to play a game of musical chairs with the heads of its various broker-dealers, this time replacing James Cannon with Jeffrey Auld, who becomes president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
This is the third major change in leadership since 2006 in the AIG network, which has 7,500 affiliated reps.
Mr. Cannon left to pursue other interests, according to a statement from the firm. Mr. Auld officially joins the firm at the end of the month.
In January of 2006, Mark Goldberg left as chief executive of Royal Alliance Associates Inc. of New York. He was replaced by industry veteran R. Lawrence Roth, who has since risen to president and chief executive of the entire network.
Just last week, Boston-based LPL Financial's Mark J. Schlafly was named president and chief executive of FSC Securities Corp. and Advantage Capital Corp., both of Atlanta.
He replaced Joseph B. "Joby" Gruber, who resigned from Advantage Capital and FSC in April because he allowed an underling to take continuing-education exams in his name.
Mr. Auld, who is known for his recruiting skills, left Berthel Fisher and Company Financial Services Inc. of Marion, Iowa, in May for personal reasons.
In 2006, he resigned from Next Financial Group Inc. of Houston, also for personal reasons.
E-mail Bruce Kelly at bkelly@investmentnews.com.
