Penny Pennington, a principal of Edward Jones’ client strategist group, is set to succeed managing partner Jim Weddle in January 2019, Edward Jones announced.
After vetting many internal candidates, EJ’s succession committee came to a unanimous agreement to recommend Pennington, according to a company release.
A native of Nashville, Tenn., Pennington started her career with EJ at its Livonia, Mich.-branch in 2000. She worked as a financial advisor and then advanced to a principal in 2006, relocating to the firm’s headquarters in St. Louis. Beyond her duties, Pennington became a board member on the Edward Jones Trust Company, a member of EJ’s executive, management and audit committees and a senior executive sponsor of EJ’s lesbian, gay, bisexual, transgender and ally (LGBTA) Business Resource Group.
“Penny is an excellent choice to serve as our firm’s sixth managing partner. Our Executive Committee is confident that she is immersed in our values, culture and partnership, with broad leadership experience in the field, at our headquarters and within our industry," said Weddle.
Pennington will succeed Weddle, who the firm said led them through the Great Recession and guided them through shifts in business environments and client expectations.
In the approximate 12 years Weddle spent as a managing partner, he grew the number of Edward Jones’ financial advisors from 9,000 to more than 16,000, Edward Jones said.