Armitage, who was laid off from Thrivent as part of a larger reorganization of the wealth management business, will bring her expertise to wealth management CEOs.
A Kansas federal judge said there was some overlap between the litigation and arbitration against former Edelman advisors who left for Mariner, but it wasn’t “significant enough” to justify a pause in the case.
Oden left Schwab late last year after more than 30 years at the company.
The package for 62-year-old David Solomon includes a $2 million base salary and $29 million in variable compensation, with $20.3 million of that in the form of restricted stock units.
The move comes as individual investors hold about 50% of global assets under management—a figure that’s expected to rise to almost 70% by 2023,