FSC boss unexpectedly resigns

Mark Schlafly, CEO of FSC Securities, one of three independent broker-dealers owned by AIG, has resigned due to personal reasons, the company said today. Mr. Schlafly is an industry veteran with prior experience at LPL Financial Corp. and A.G. Edwards & Sons Inc. He joined FSC in July 2008, two months before its parent company American International Group was pushed to the brink of insolvency during the credit crisis. The company was subsequently bailed out by the federal government. “We are in the early stages of identifying a successor with the experience and proven track record to lead FSC into the future,” said spokeswoman Linda Malamut. “In the interim, and effective immediately, Larry Roth, CEO of Advisor Group, will assume the additional responsibilities of President and CEO of FSC.”