People moves
Sun Life Financial
Dean Connor, president and chief executive of the financial services giant, will retire 6 August 2021.
He will also retire from the Sun Life board of directors in accordance with company policy.
Kevin Strain, currently executive vice-president and chief financial officer, will assume the chief executive role upon Connor’s retirement.
He will continue working with Connor and the board to name a new chief financial officer in the first half of 2021.
Until a chief financial officer is appointed, Strain will retain the title and responsibilities.
Raymond James
The wealth firm has hired Marlene Debel to the board of directors.
She is the executive vice president and chief risk officer of MetLife.
RBC Wealth Management
Nate Angelo has taken on the role of complex director for the firm’s Pacific northwest complex, effective 1 December.
He will lead 137 advisers and 10 branch offices, and was previously leading RBC Wealth Management’s adviser development and engagement team,
Angelo succeeds complex director David Moskovitz, who is moving back into a client-facing role as director of the firm’s Kirkland, Washington branch.
M&A
LPL Financial
The US retail investment advisory firm has agreed with Macquarie Asset Management to acquire the wealth management business of Waddell & Reed Financial.
This is upon completion of Macquarie’s acquisition of all the issued and outstanding common shares of Waddell & Reed.
Additionally, LPL and Macquarie have signed a deal for a long-term partnership, with Macquarie becoming one of LPL’s strategic asset management partners.
Through its subsidiaries, Waddell & Reed has provided investment management and wealth management services to clients throughout the US since 1937.
The financial terms of the deal were not disclosed.
