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Waddell & Reed President Resigns: 32-Year Vet Burke
Derek Burke, president of Waddell & Reed, has resigned effective Tuesday. Waddell & Reed is the broker-dealer subsidiary of parent company Waddell & Reed Financial.
Burke, who joined Waddell & Reed in July 2014, oversaw the day-to-day operations of the broker-dealer business, taking over as president from Thomas Butch, who still remains CEO of the division as well as EVP of the parent company.
Burke's duties will be absorbed internally as the company evaluates its options.
Burke's 32-year career in financial services includes experience at ... First Investors Advisory Services, UBS Wealth Management, NY Life Investment Management John Hancock Mutual Life, Prudential Insurance Co., and the SEC.