Announced this morning, RCS Capital Corporation (RCAP), the Nicholas Schorsch publicly-traded holding company that owns a wholesale distributor of alternative investments, a network of independent broker-dealers, and a research firm, among others, has announced several changes and executive additions to its roster.
RCAP’s president, Michael Weil, is now the company’s Chief Financial Officer and will be responsible for enforcing RCAP’s vision and business plan. Mr. Weil replaces William M. Kahane, who will remain a director of the company.
“Over the past three years we’ve made tremendous progress in building an industry-leading platform and expanding our portfolio of direct investment solutions available to retail investors,” said now former CEO William M. Kahane. “In fact, since our inception in 2007, we’ve raised over $20 billion through the sale of over 30 direct investment programs to over 2 million investors, establishing our position as an industry-leading provider of investment advice and solutions to the mass affluent retail investor. My decision to step down as Chief Executive Officer reflects my confidence in our outstanding management team.”
Bill Dwyer has joined the RCAP family as Realty Capital Securities’ (RCS) new Chief Executive Officer.
RCS is a wholesale distributor of direct investment offerings and Mr. Dwyer will oversee the development and implementation of RCAP’s strategic plan. Mr. Dwyer previously worked for LPL Financial, where he served as President of the independent broker-dealer.
“As the new CEO of Realty Capital Securities, I am excited to lead one of the industry’s largest diversified wholesale distribution businesses,” said Mr. Dwyer. “As I take on this new and exciting role, I am pleased that I will be able to draw upon my 20 years of experience supporting advisors in the retail broker-dealer channel.”
In addition, RCAP has appointed John H. Grady as Chief Strategy and Risk Officer.
Prior to this appointment, Mr. Grady held various leadership positions at RCAP and AR Capital. In his new role, Mr. Grady will cultivate and execute strategic initiatives and supervise risk functions related to the retail and wholesale distribution business. He will also oversee compliance and risk management programs throughout the business.
RCAP also welcomed Sanjay Yodh as Executive Vice President of RCAP liquid alternative investments, where he will oversee the company’s strategy in that regard. Before joining RCAP, Mr. Yodh helped build ProShares’ institutional sales division as Head of Institutional Sales at the liquid alternative exchange traded fund company.
Mr. Weil commented, “With our deep bench of seasoned executives, we are poised to continue to capitalize on the significant market opportunities ahead for RCAP. I look forward to building on RCAP’s strong momentum as we enter our next phase of growth, and I welcome Bill Dwyer, Sanjay Yodh, and John Grady to our executive management team.”