Hilltop Securities has promoted John Muschalek to head its wealth management business.

In his new role, Muschalek oversees the company’s private client group, independent advisor network, securities lending and clearing services businesses, according to a press release from Hilltop Securities.

He is a member of the firm’s executive committee and reports to president and CEO Brad Winges, Hilltop Securities says.

Muschalek came to Hilltop Securities when he joined its legacy firm, First Southwest Co., in 1992, according to the press release.

Most recently, Muschalek was Hilltop Securities’ chief administrative officer. He’s also held roles as chief financial officer, financial and operations principal and head of correspondent clearing and securities lending, among other positions.

Additionally, Muschalek serves on two Finra committees. He has also served on Finra’s National Adjudicatory Council and as chairman of the industry group Sifma’s Clearing Firms Committee, Hilltop Securities says.

Based in Dallas, Hilltop Securities manages $1.1 billion for approximately 3,800 accounts, according to its latest Form ADV.

Its affiliate firm Hilltop Securities Independent Network manages $421 million for around 1,900 accounts, according to its latest Form ADV.