LPL Financial Hires Former Bank of America Exec as EVP and Chief Risk Officer
LPL Financial LLC, the nation’s largest independent broker-dealer, has hired Thomas Cappello as executive vice president and chief risk officer.
LPL Financial LLC, the nation’s largest independent broker-dealer, has hired Thomas Cappello as executive vice president and chief risk officer. In his new role, Cappello is responsible for LPL’s risk functions, including enterprise risk management, business risk management and product risk management.
Cappello joins LPL from Bank of America, where he served as managing director, enterprise strategic risk executive and chief risk officer for the investment solutions group. In this role, he was responsible for providing risk oversight of key priorities across Bank of America, as well as material risks related to investment advice, strategy and products across Merrill Lynch and Bank of America Private Bank.
Prior to that, he served as executive director of operational risk for UBS Wealth and Asset Management. He began his career in 2002 as a financial advisor and in field leadership positions supporting financial advisors at UBS.
“Tom brings a risk-ready mindset and vast wealth management experience, which will allow him to champion an effective enterprise-wide risk management framework across all of LPL’s business units,” said Michelle Oroschakoff, LPL managing director and chief legal officer.
Cappello earned a bachelor’s degree in business administration from the University of Central Florida and an MBA from Fordham University. He is a chartered financial analyst and a member of the New York Society of Security Analysts.
LPL Financial provides service to approximately $762 billion in brokerage and advisory assets as of June 30, 2020. The company provides proprietary technology, clearing services, practice management programs and training, and independent research to 16,973 financial advisors.
