Adam Antoniades, Cetera CEO, to Step Down this year
According to Investment News, Adam Antoniades, CEO of Cetera Financial Group, will reportedly step down at the end of 2024 after leading the company since 2019. His departure follows speculation about his role since Cetera Holdings appointed Mike Durbin as CEO of the holding company in 2023. Durbin will now assume leadership of both Cetera Financial Group and Cetera Holdings.
During Antoniades’ tenure, Cetera saw significant growth, acquiring nine companies, doubling its assets under management (AUM) by 200%, and increasing annual revenue by nearly $2.8 billion, representing 20% compound annual growth. The firm, owned by private equity manager Genstar, now oversees $521 billion in client assets.
Antoniades will remain on the company’s board and expressed pride in his role as a “turnaround and expansion CEO.”
Cetera Financial Group is an independent wealth hub and financial services provider comprising, among other companies, one of the largest families of independent registered investment advisers and broker-dealers in the United States.
As of December 31, 2022, Cetera is serving over 8,000 independent financial professionals and 400 banks and credit unions, representing 1.8 million investors.
Free Consultation
This information is all publicly available and provided by The White Law Group. If you have suffered investment losses, the securities attorneys at The White Law Group may be able to help you. For a free consultation to learn about your options, please call The White Law Group at 888-637-5510.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.
Last modified: November 12, 2024
