Cetera Financial Group has a new leader for its wealth management division. Former Pershing executive Steve Dunlap will take the place of the departing Barnaby Grist, who is leaving the firm for personal reasons.
Grist’s replacement most recently served as president and chief executive of Lockwood Advisors, as well as Pershing’s president of managed investments. While in these roles, he led efforts to re-invent the managed account technology platform and upgrade the delivery of institutional-quality investment advice and manager research.
As head of Cetera’s wealth management unit, Dunlap will report to CEO Valarie Brown. Brown said it was Dunlap’s “extensive experience, proven leadership and entrepreneurial spirit” that made Cetera’s CEO confidant he was the right choice. “He has absolute on-target experience in this space and a history of innovation.”
Brown said the search for Grist’s replacement was a fantastic experience. “The level of interest was very heartening for our team because it validated the level of quality of the people that are here and the value of Cetera,” she says.
The board unanimously approved Dunlap’s appointment just in time, as Grist’s last day is Friday, so there will be no gap in leadership, Brown says. Dunlap said it was Cetera’s “big-idea type of approach” and entrepreneurial DNA for drawing him to the firm.
“If you look at my background, I’ve done things that people don’t think go together,” Dunlap says. “Cetera is a place I can put all of it together.” Prior to joining Pershing in January 2008, Dunlap acted as president of Finetre Corporation—which provides online annuity and life insurance transaction processing, as well as workflow platforms and compliance software and platforms to brokerage firms.
He worked as a branch manger at First Virginia Bank and later as a broker for Legg Mason Wood Walker.