The AIG Advisor Group Inc. this week announced organizational changes to the nation's largest independent broker-dealer network. According to the company, the initiatives aim to improve coordination, streamline access to collective resources, and expand management responsibilities over critical support functions available throughout its network of more than 7,800 financial advisors.
Larry Roth, who currently serves as president and CEO of Royal Alliance, succeeds Peter A. Harbeck as CEO of AIG Advisor Group. Harbeck remains as chairman. Roth's principal focus will be defining strategy and driving growth. Arthur Tambaro, vice chairman and chief operating officer of Royal Alliance, will succeed Roth as Royal Alliance's president.
Joby Gruber, president and CEO at FSC Securities Corp. and Advantage Capital Corp., was named to the additional post of president of AIG Advisor Network, and will assume expanded responsibilities in recruiting, regional management, business development, marketing communications, and meetings and events. Gruber will manage these functions for the broker-dealers with help from Arthur Tambaro at Royal Alliance and Jim Cannon at AIG Financial Advisors and American General Securities Inc. He also will continue to oversee the Elite Partner Program and Insurance Services Division.
Jim Cannon, president and CEO of AIG Financial Advisors and American General Securities Inc., will assume expanded responsibilities as president of AIG Investment Advisory Services, which includes all asset management platforms and advisory consultants. Cannon also will be responsible for the newly-formed network research function comprised of the network's traditional packaged products research function, formerly within Investment Products and Research, and its advisory services research team. With more than $39 billion in assets under management, advisory services is the fastest growing business segment within AIG Advisor Group.
Randy Epright, who most recently served as senior vice president, chief operations officer and chief information officer of AIG Retirement Services Inc., has assumed new responsibilities as executive vice president and chief operating officer of AIG Advisor Group. Epright will be responsible for all operations and technology including brokerage services, trading, advisory technology, and back office processing.
The AIG Advisor Group consists of Advantage Capital Corp., AIG Financial Advisors Inc., American General Securities Inc., FSC Securities Corp., and Royal Alliance Associates Inc. The AIG Advisor Group is a wholly-owned subsidiary of American International Group Inc.