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HighTower’s Weissbluth Replaced by Fidelity and Charles Schwab Veteran

By Alex Padalka January 8, 2019

HighTower has replaced CEO Elliot Weissbluth with a veteran Charles Schwab and Fidelity executive, according to HighTower.

Bob Oros has been in the financial services industry for more than two decades, HighTower says in a press release.

In addition to his stints at Schwab and Fidelity, where he oversaw the firm’s RIA segment, Oros was more recently CEO of HD Vest Financial Services, according to HighTower.

As chief of HighTower, Oros is tasked with scaling the company, whose 92 advisor teams currently oversee $60 billion, the company says.

Weissbluth has been named chairman of HighTower’s board, meanwhile, according to the press release.

Gurinder Ahluwalia, the board’s current chairman, will transition to lead director, HighTower says.

Reports surfaced in November that HighTower had zeroed in on Oros as Weissbluth’s replacement.

HighTower had said in August that Weissbluth, who founded the firm in 2007, would become HighTower’s chairman and would focus on mergers and acquisitions, building the HighTower brand and recruiting advisors.

Blucora, which owns HD Vest, announced in October that Oros was leaving the company for personal reasons.

Elliot Weissbluth

"I am delighted to welcome Bob, whom I have known for many years, and am looking forward to supporting him as he leads the company during this exciting period of growth in our industry," Weissbluth says in a press release from HighTower. "Bob’s strong leadership abilities and track record of growing companies make him an ideal fit to lead HighTower in its second decade."