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Axos Clearing, the clearing and custody arm of Axos Monetary, has introduced on Gil Addeo as senior vp of enterprise improvement, a newly created place. Addeo joins from FIS, a banking and funds know-how supplier, the place he served as a supervisor director in FIS’s industrial lending division.
Addeo will report back to David Crow, government vp and head of Axos Clearing. He’ll be chargeable for increasing Axos Clearing’s attain inside the U.S. and Latin America.
The addition is essential to the corporate’s objective of increasing its providers to unbiased brokers/sellers and RIAs. Axos Clearing presently has $33 billion in property beneath administration throughout 65 IBDs and 233 RIA shoppers. Â
Previous to FIS, Addeo was an government vp of worldwide enterprise improvement at Atlas FinTech Holdings, a monetary providers agency that gives specialised banking providers.
Axos has been constructing out its clearing and custody capabilities during the last a number of years. In 2021, it purchased E*Commerce Advisor Providers, the RIA custody enterprise acquired by Morgan Stanley in 2020 as a part of its $13 billion takeover of E*Commerce. The agency has since been on a mission to rejuvenate and repurpose know-how initially developed by Belief Firm of America over a decade in the past—all of the whereas quietly laying the groundwork to usher in the enterprise of advisors with between $50 million and $500 million in property.
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