In a surprise move on Friday, clearing and custodial firm Trust Company of America announced that vice president of national sales Bob Oros is leaving the Colorado-based company to become executive vice president of RIA sales and relationship management at Fidelity Investments.
The announcement came less than two months after the sudden departure of CEO Frank Maiorano in early December. "Spending more time with family" was the reason given for Maiorano's leaving.
"This is an opportunity for Bob and we have nothing but respect for him and what he did [at TCA]," said David Barry, president and CEO of Trust Company of America. "He had a big challenge, and he's put a good team in place. So congratulations, and we wish him well on his next step."
Oros joined Trust Company of America in 2010 from LPL Financial, where he served as executive vice president of custom clearing services. Before that, he was a vice president at Charles Schwab. In his new role, he will report to Mike Durbin, president of Fidelity Institutional Wealth Services "in a role similar to that of his past positions," said Fidelity spokesman Steve Austin.
