RCS Capital has announced the a number of executive changes and key leadership appointments, to support continued growth of its industry-leading platform.
- Michael Weil, RCAP’s President, has been appointed Chief Executive Officer of RCAP, effective immediately, succeeding William M. Kahane. Mr. Weil will be responsible for developing and implementing RCAP’s strategic vision and overseeing the execution of RCAP’s business plan. Mr. Kahane will remain a Director of RCAP.
- Bill Dwyer, a recognized industry leader, has been appointed Chief Executive Officer of Realty Capital Securities, LLC ("RCS"), the leading wholesale distributor of direct investment offerings, including public non-listed real estate investment trusts, business development companies and mutual funds. RCS is an operating division of RCAP. Mr. Dwyer will be responsible for overseeing the development and execution of RCAP’s wholesale distribution strategic plan. Prior to joining RCAP, Mr. Dwyer enjoyed a 20-year tenure at LPL Financial where most recently he served as President of LPL Financial Independent Advisor Services.
- John H. Grady has been appointed Chief Strategy and Risk Officer of RCAP. Mr. Grady will be responsible for developing and implementing important strategic initiatives across the RCAP platform. He will also oversee the risk functions associated with the retail and wholesale distribution businesses and supervise all compliance and risk management programs across the business. Prior to his appointment as Chief Strategy and Risk Officer, Mr. Grady held various executive management positions at RCAP and AR Capital, LLC ("AR Capital") where he is currently serving as President of National Fund Advisors, an institutional asset manager and registered investment advisor.
- Sanjay Yodh has been appointed Executive Vice President of RCAP liquid alternative investments where he will be responsible for overseeing RCAP’s liquid alternative sales strategy. Prior to his role at RCAP, Mr. Yodh was Head of Institutional Sales at ProShares, where he played a key role in building the company’s institutional sales division, working with pension funds, endowments and investment consultants on the benefits of alternative investments. Mr. Yodh also has executive management responsibility at AR Capital and was recently appointed Chief Operating Officer of National Fund Advisors.
"Over the past three years we’ve made tremendous progress in building an industry-leading platform and expanding our portfolio of direct investment solutions available to retail investors," said out-going Chief Executive Officer William M. Kahane. "In fact, since our inception in 2007, we’ve raised over $20 billion through the sale of over 30 direct investment programs to over 2 million investors, establishing our position as an industry-leading provider of investment advice and solutions to the mass affluent retail investor."
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"My decision to step down as Chief Executive Officer reflects my confidence in our outstanding management team. Under Mike’s leadership, I firmly believe RCAP will continue to execute and deliver real value to shareholders, and I look forward to continuing to work with this exceptional team as a member of the Board of Directors."
"I am honored to be appointed CEO of RCAP and would like to thank Bill for his tireless leadership and invaluable contributions to our growth and development," said Michael Weil. "With our deep bench of seasoned executives, we are poised to continue to capitalize on the significant market opportunities ahead for RCAP. I look forward to building on RCAP’s strong momentum as we enter our next phase of growth, and I welcome Bill Dwyer, Sanjay Yodh, and John Grady to our executive management team."
"As the new CEO of Realty Capital Securities, I am excited to lead one of the industry’s largest diversified wholesale distribution businesses," said Bill Dwyer. "As I take on this new and exciting role, I am pleased that I will be able to draw upon my 20 years of experience supporting advisors in the retail broker-dealer channel. The prospects for continued significant growth and the opportunity to expand RCAP’s wholesale distribution of liquid and illiquid alternative investments with existing and new partners in the independent broker-dealer, wire-house, registered investment advisor and bank channels attracted me to RCAP. I look forward to helping RCAP create and distribute more holistic investment solutions that meet the increasing needs of our investors and advisors."
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