By Chris Glynn
Longtime private banking executive Bill Sappington has joined LPL Financial, the independent broker-dealer announced.
As head of banking and lending, Sappington assumes leadership in building a companywide banking and lending platform, San Diego-headquartered LPL Financial said. Sappington will report to Chief Product Officer Kabir Sethi, who called Sappington “a creative global banking leader.”
Prior to coming onboard with LPL Financial, Sappington headed banking and private wealth management for City National Bank, a West Coast company owned under Toronto-based Royal Bank of Canada.
From 2006 to 2018, he led private banking and lending for investment bank Bear Stearns then BNY Mellon. He began his Wall Street career in 1987 with Merrill Lynch & Company in San Francisco.
For Merrill Lynch, Sappington led the development and rollout of Merrill Lynch Loan Management Account, the first-ever integrated digital lending solution in finance, according to LPL Financial.