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Friday, January 29, 2016

Great Scott! UMB's Ex-Chief Joins a Brokerage

News summary by MFWire's editors

The executive who previously oversaw Scout Investments and its mutual fund back office sibling, UMB Fund Services, is moving east and taking over a brokerage.

Peter deSilva
Scottrade Financial Services
Incoming President. Brokerage
Peter deSilva will join privately-held, St. Louis-based online discount brokerage giant Scottrade Financial Services on February 1 as president of its brokerage business, Scottrade, Inc. Rodger Riney, founder and CEO of Scottrade Financial Services, released the news on Wednesday, and the Kansas City Business Journal and the Kansas City Star both reported on the news.

deSilva is a Fidelity alumnus and a 17-year Fidelity veteran. He left Kansas City, Missouri-based UMB earlier this month after 11 years with the bank. Prior to November 2015, deSilva served as president, chief operating officer, and board member of UMB, and the chiefs of both UMB Fund Services and Scout reported to him.

Rodger Riney
Scottrade Financial Services, Inc.
Founder, Chief Executive Officer
He joins Scottrade shortly after the creation of an advice-providing unit, Scottrade Investment Management. 

Edited by: Neil Anderson, Managing Editor

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