Erica McGinnis stepping down as CEO of Advisor Group
The broker-dealer network is seeking a new chief executive as Valerie Brown temporarily fills the role
Erica McGinnis is stepping down from her role as president and chief executive officer of Advisor Group, three months after American International Group Inc. completed the sale of the brokerage network to Lightyear Capital, according to a memo obtained by InvestmentNews.
While a search is under way for a replacement, executive chairman Valerie Brown will act as interim CEO and president, according to the memo.
Ms. McGinnis and the board of Advisor Group agreed that now is “the right time” for her to take on a new role as executive vice president and head of transitions to assist the firm’s separation from AIG, according to the memo.