LPL Financial has hired Bill Sappington as executive vice president of banking and lending solutions. He will lead the firm’s efforts to build a new banking and lending platform, the company said in a release.
Sappington most recently served as head of wealth management and private banking for City National Bank. Earlier, he was the head of private banking at BNY Mellon, where he introduced banking and lending capabilities to the independent advisers using Pershing Advisor Solutions and Pershing.
Before joining BNY Mellon, Sappington led the development of the Merrill Lynch Loan Management Account, which was the first fully integrated digital lending solution in the industry.
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“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
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