Cetera Financial Group's holding company has appointed Mike Durbin, who most recently was head of Fidelity Institutional, to the new role of Cetera Holdings CEO and as a board member, the firm said Wednesday.
Adam Antoniades will continue to serve as Cetera Financial Group's CEO and be on its board.
"Mike's deep expertise and background in the RIA, retirement, and custody and clearing space, as well as his proven track record of leadership and innovation, will help Cetera further solidify its position as the ultimate destination for financial advisors and institutions," Antoniades said in a statement.
Cetera Financial Group now has over 8,000 financial professionals who oversaw about $330 billion in assets under administration and $116 billion in assets under management as of March 31, it said.
'Next Step'
Durbin's new role and his post on the firm's board of directors represent "a deliberate next step in Cetera's evolution and positions Cetera for continued growth as a market leader and disruptor," the company said in a news release.
