Ameriprise Financial’s Personal Advisors Group president Donald Froude has decided to step down from his role at the end of March, 2015.
Froude, who joined Ameriprise Financial in September 2008 to serve his current position, will continue his stay with the firm working on field initiatives and projects.
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Froude’s decision comes as a part of a transition plan worked over the past year as he desired to serve in a role that involved less travel.
In his new role Froude, who was responsible driving growth and productivity across the firm’s advisor force, will be based in New York requiring minimal travel.
Prior to joining Ameriprise Financial, Froude worked as the managing director and head of US distribution for Legg Mason.
Ameriprise will not replace Froude’s position while his duties will be divided between Bill Williams, executive vice president and head of Ameriprise’s franchise advisor channel and Patrick O’Connell, executive vice president of the 2,100-advisor employee channel.
Williams and O’Connell, who previously reported to Froude, will report directly to Ameriprise CEO James Cracchiolo.
