Cetera Names New Head of Corporate Development

By John Manganaro

Career Moves April 26, 2024 at 03:08 PM

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Cetera Financial Group this week announced the appointment of Wall Street veteran Michael Molnar as its head of corporate development, taking on the role from Ken Bond, who is departing the firm.

Molnar joined Cetera last year via the firm's acquisition of Avantax, where he had been head of corporate development, succession planning, and mergers and acquisitions. During his Avantax tenure, Molnar orchestrated more than 20 acquisitions that helped nearly double the size of Avantax's employee-model registered investment advisor.

In the new role, Molnar will lead corporate development for the combined Cetera-Avantax organization, overseeing the team focused on acquisitions and succession solutions. He will work closely with Jeffrey Buchheister, Cetera Financial Group's chief financial officer, and Mike Durbin, Cetera Holdings' CEO.

Buchheister said Cetera is grateful for Bond's contributions over the past three years, noting the firm's record growth in 2023.

"Looking ahead, we're excited to have Michael in this important role, and view this rapid transition as an early success of our Avantax integration," Buchheister said. "He was a natural choice for Cetera leadership based on his experience and the role he played in growing Avantax."

Before Avantax, Molnar was a buy-side investor, investment banker, sell-side equity analyst, strategy consultant and certified public accountant, working at firms such as Goldman Sachs, Accenture and Arthur Andersen.

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