LPL Financial's chief product officer, Kabir Sethi, will depart the company effective March 31, according to a regulatory filing.
LPL Financial Holdings Inc. has "determined to proceed with an organizational realignment of certain business functions," according to the document. As a result of the realignment, Sethi will step down from his role as managing director and chief product officer.
Responding to a request for more information from ThinkAdvisor, an LPL spokesperson confirmed that the company does not have plans to replace the role, and Sethi's responsibilities have been "realigned across different teams." The spokesperson declined to offer more information about the "organizational realignment" or whether other leadership changes are in the works.
"We thank Kabir for his leadership and contributions to our organization," the statement reads. "We have a talented and dedicated team in place, and we are confident in their ability to continue delivering on our mission to help advisors and institutions deliver great advice and run thriving businesses."
Sethi's LinkedIn profile shows he has been in the role for a little less than two years. As chief product officer, he has been responsible for LPL's technology platforms and wealth management offerings. The job also entailed providing strategic leadership and direction across wealth management solutions, investment research, investor product experience, advisor technology products and data analytics teams, according to Kabir's bio page on LPL's website.
