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LPL Financial

Victor Fetter Out As LPL's CIO

Scott Seese, a former American Express and eBay executive, will take charge of LPL's technology.

Victor Fetter is leaving LPL Financial after serving as the firm’s chief information officer since 2012.

The company announced Thursday that Fetter was leaving to pursue a new opportunity with Vertiv, a technology firm focused on building and supporting data centers.

LPL is filling the role with Scott Seese, the former CIO of American Express’s global consumer business unit. In a statement, LPL said Seese spent the last year focused on philanthropic efforts in Guatemala with Wakami, an e-commerce site focused on helping underprivileged communities generate income by teaching them to make and sell crafts and jewelry.

Prior to his time at American Express, Seese served as the CIO and vice president of information technology at eBay. During his time, eBay grew revenue from $6 billion to $18 billion.

“I’m excited to welcome Scott to our management team, and I’m confident in his ability to transform our technology products and platforms from utility to strategic assets,” said Dan Arnold, LPL’s president and CEO. “Scott is a seasoned technology executive who is known as an innovator and digital disruptor. He brings a wealth of proven experience building and delivering customer-centric technologies at leading organizations.”

In 2014, Fetter introduced ClientWorks, a new advisor workstation meant to upgrade the technology LPL offers advisors. Fetter launched a vendor affinity program in 2015 to provide advisors discounted access to third-party technologies, and the company said it was planning to introduce a robo hybrid solution, though not much other information has been given.

Steering the company's digital advice plans is likely on Seese’s agenda.

“I’m excited to be joining LPL at this critical time, both in its technology journey and its growth strategy,” said Seese. “Technology plays such an important role in the everyday lives of our employees, advisors and their clients."

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