LPL Financial Names Managing Director and Chief Risk Officer

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LPL Financial LLC announced that Michelle Oroschakoff has been appointed Chief Risk Officer and Managing Director.

 Ms. Oroschakoff will be based in San Diego and will report to Mark Casady, LPL Financial Chairman and CEO. She will also serve as a member of the firm's Management Committee and as Vice Chair of the firm's Risk Oversight Committee.

Ms. Oroschakoff joins LPL Financial from Morgan Stanley, where she was most recently the Global Chief Risk Officer of the Wealth Management division and prior to that, Chief Compliance Officer for Morgan Stanley Smith Barney. Before serving in these roles, she was the General Counsel for Fisher Investments, a leading independent registered investment advisory firm. Earlier, she spent eleven years in a number of senior legal and compliance roles at Morgan Stanley, including as Associate General Counsel and head of the firm's San Francisco litigation department.

Mark Casady, Chairman and CEO of LPL Financial, said, 'We are delighted to welcome Michelle Oroschakoff to our firm. Her hire is a reflection of the continued importance we attach to risk management, compliance and controls. Michelle's skills in managing risk in a large, complex organization and working closely with regulators will be an important addition to the company. We look forward to Michelle bringing her considerable years of experience in legal, compliance and risk management issues in the financial services industry to our organization at a time of renewed focus for us on these vital areas'.

In her role at LPL Financial, Ms. Oroschakoff will be responsible for firm-wide risk management processes and controls, including regulatory compliance, data security and privacy and other critical risk management functions, as well as working closely with the firm's regulators.

Ms. Oroschakoff said, 'I am excited to be joining LPL Financial during this time in the firm's history. I look forward to working closely with Mark and the rest of the executive team to continue to enhance the firm's compliance infrastructure, policies and systems. Having a robust compliance, risk management and controls function will help ensure that growth is well-managed and sustainable. It is an honor to become a part of this firm, and to work with a team of distinguished industry veterans in shaping the next chapter of the company's development'.

Casady concluded, 'In recent years, our commitment to strengthening our compliance, risk management and controls culture has intensified, resulting in even greater investments in people, processes and infrastructure. Michelle's hire is part of our significant investment in multiple enhancements to our risk management structure. Michelle is the right person at the right time to take the helm of our compliance, risk management and controls function and ensure that the enhancements we are continuing to make contribute to a strengthening of our risk management outcomes across the board'.

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