Ladenburg Thalmann CEO Richard Lampen leaves

  • After around 13 years in the position
  • Successful completion of its merger with Advisor Group
  • Jamie Price taking over
  • Lampen said 78 words

(exechange) — Phoenix, Arizona, February 18, 2020 — Richard Lampen, chief executive of Ladenburg Thalmann, leaves. As announced by Ladenburg Thalmann Financial Services Inc. in a news release published on Friday, February 14, 2020 and in a regulatory filing published on Tuesday, February 18, 2020, Richard J. Lampen leaves his post as chief executive officer at the financial services company after around 13 years in the role, effective immediately.

Richard Lampen’s duties as CEO will be taken over by Jamie Price, most recently Chief Executive Officer of Advisor Group.

Successful completion of its merger agreement

Richard Lampen’s departure from the CEO post is explained as follows. Ladenburg Thalmann said: “Advisor Group, the nation’s largest network of independent wealth management firms, today announced the successful completion of its merger agreement with Ladenburg Thalmann Financial Services Inc., a diversified financial services company based in Miami that includes five independent advisory and brokerage firms.”

Ladenburg Thalmann said: “At the Effective Time, the following persons will no longer hold the position as an officer of the Company: Richard J. Lampen as Chairman, President and Chief Executive Officer; Adam Scott Malamed as Chief Operating Officer, Executive Director and Executive Vice President; and Doreen Griffith as Chief Information Officer and Senior Vice President, while the following persons became officers of the Company: Jamie Price as Chief Executive Officer and President and Ahmed Hassanein as Chief Accounting Officer.”

Share price increase since September 2006

The announcement follows an increase in Ladenburg Thalmann Financial Services Inc.’s share price of 232% since September 2006.

In the position of CEO since 2006

Richard Lampen became CEO of the Company in 2006.

Lampen has been the Company’s president and chief executive officer since September 2006 and the chairman of the Company’s board of directors since September 2018.

Since July 1996, Lampen has served as executive vice president of Vector Group.

Since October 2008, Lampen has served as president and chief executive officer and a director of Castle Brands Inc.

Lampen previously served as chairman of the board of directors of the Financial Services Institute, an advocacy organization for independent broker-dealers and their affiliated independent financial advisors.

Push-out Score not determined

When a company convincingly explains that the departure is due to personal or business reasons that are unrelated to the firm’s activities, a Push-out Score™ is not determined.

Read the full story in the exechange report 8.2020 ($).