LPL Financial elects Somesh Khanna to board as independent director

LPL Financial Holdings Inc. (NASDAQ: LPLA) announced that Somesh Khanna has been elected to the company's board of directors as an independent director.

Khanna currently serves as a senior advisor at McKinsey & Company and is the executive co-chair of Apexon, a technology services firm specializing in artificial intelligence, data and digital-first solutions. He also serves on the boards of KeyCorp and Persado.

Khanna brings more than three decades of leadership experience in consulting and financial services. During his tenure at McKinsey & Company, which began in 1998, he co-led the global banking and securities practice, led McKinsey Digital for financial services globally and served as managing partner of the New York office. Earlier in his career, Khanna was CEO of a digital business at eCredit, focused on trade receivables securitization in partnership with J.P. Morgan.

"Somesh brings extensive experience to the LPL board that directly applies to the firm's strong growth trajectory," said Jim Putnam, chair of the LPL board of directors. "His expertise in digital transformation, AI and data-driven strategic planning will be invaluable as we continue to innovate and meet the evolving needs of financial advisors, institutions and their clients."

Khanna holds a master's degree in management from Northwestern University's Kellogg School of Management, a postgraduate diploma in management from the Indian Institute of Management Calcutta and a bachelor's degree in chemical engineering from the Indian Institute of Technology New Delhi.

LPL Financial supports over 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans, according to the company's press release.

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