Cetera Financial Group has appointed Adam Antoniades as its new CEO, the company says.
Antoniades, who has been Cetera’s president since 2014, is taking over from interim CEO Ben Brigeman, who remains chairman of Cetera’s board of directors, according to a press release from the company.
Antoniades has also joined the board, Cetera says.
Prior to Cetera, in 1994, Antoniades founded First Allied and oversaw its sale to Wells Fargo in 2002, according to the press release. First Allied is now a Cetera broker-dealer, Cetera says. Antoniades has also served as chair of the board of directors of the Financial Services Institute.
“Adam has demonstrated a strong track record in leading transformation, serving independent financial advisors, driving results, strengthening operational risk and compliance, and innovating amid a rapidly evolving landscape,” Brigeman says in the press release.
Brigeman took over as interim CEO at the end of March following the sudden announcement that then-CEO Robert Moore was stepping down for unspecified health reasons. That month, Brigeman told FA-IQ in a statement Genstar Capital, the private-equity shop that had acquired Cetera for $1.75 billion in October 2018, was confident in Cetera’s prospects.
"I want to thank our CEO search committee for conducting such a thorough vetting of internal and external candidates that was extensive in its diligence and reach,” Tony Salewski, managing director at Genstar and member of Cetera’s board, says in the press release. “The Cetera CEO role attracted many of the industry’s top talent, and in Adam we are confident that we have identified the best leader to take Cetera forward."
Cetera has gone outside the company to fill executive positions. Last month, the company hired Andy Gill, a former Charles Schwab executive, as its chief strategy and execution officer.