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LPL Financial says he named Bill Sappington to the newly created position of Executive Vice President of Banking and Lending Solutions.

Sappington will lead LPL’s banking and lending solutions, developing and executing a strategy to deliver an offering to the firm’s advisors and clients, according to LPL. He will report to the General Manager and Product Manager of LPL Kabir Sethi.

“Bill is a creative global banking leader with a demonstrated ability to grow revenue 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 short-term value and long-term vision to grow 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 National City Bankand previously Head of Private Banking at BNY Mellon.

During his time at BNY Mellon, Sappington introduced banking and lending capabilities to Independent Advisors from Solutions for Pershing Advisors and Pershing LLC and built a centralized service model dubbed the private banking concierge group, according to LPL.

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

“I am delighted to join LPL at this crucial time and lead the company’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 consulting offerings to offer sophisticated solutions. Working in synergy with LPL’s technology and strategy teams will allow us to create a banking and lending offering that will help advisors and their clients benefit from complete solutions,” he added.

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