LPL Financial says it has appointed Bill Sappington to the newly created role of executive vice president of banking and lending solutions.

Sappington will lead LPL’s banking and lending solutions, developing and executing a strategy to provide an offering to the firm’s advisors and clients, according to LPL. He will report to LPL managing director and chief product officer Kabir Sethi.

“Bill is a creative global banking leader with a demonstrated ability to grow revenues while maintaining a strategic focus on client solutions, product innovation, and enhanced client service models,” Sethi said in a statement.

“Bill’s deep expertise in building global banking businesses and wealth management will help LPL deliver near-term value and a long-term vision to growing LPL’s banking and lending business. We welcome him to the team,” he added.

Sappington has more than 30 years of experience, according to LPL. Most recently, he was head of wealth management and private banking at City National Bank, and prior to that was head of private banking at BNY Mellon.

While at BNY Mellon, Sappington introduced banking and lending capabilities to the independent advisors of Pershing Advisor Solutions and Pershing LLC and built a centralized service model dubbed the private banking concierges group, according to LPL.

During his career, Sappington also headed development of the Merrill Lynch Loan Management Account, the first fully integrated digital lending solution in the industry, according to LPL.

“I’m excited to join LPL at this crucial time and lead the firm’s efforts to build a new Banking and Lending platform,” Sappington said in a statement.

“The firm has proven its ability to innovate in its advisor offerings to deliver sophisticated solutions. Working synergistically with LPL’s technology and strategy teams will enable us to create a banking and lending offering that will help advisors and their clients to benefit from full-scale solutions,” he added.