Cetera names new head of corporate development

investmentnews.com:

Cetera is sharpening its focus on growth and succession as it appoints a seasoned M&A veteran to its leadership.

The RIA giant announced Thursday that it has appointed Michael Molnar as its new head of corporate development.

Molnar brings a wealth of experience from Wall Street, having served in roles that span buy-side investor, investment banker, and sell-side analyst. His appointment follows his successful tenure at Avantax Inc., which was acquired by Cetera in late 2023.

At Avantax, Molnar led more than 20 acquisitions, substantially growing the company’s employee-based RIA operations. He will now oversee corporate development for the combined entities of Cetera and Avantax, focusing on M&As and succession planning.

Molnar steps into the role previously held by Ken Bond, who is returning to the insurance industry.

 “We’re grateful for Ken’s contributions, many of which supported Cetera’s record-setting growth in 2023. We wish him well as he rejoins the insurance industry where he spent much of his career before Cetera,” CFO Jeffrey Buchheister said in a statement.

Buchheister also expressed enthusiasm for Molnar’s appointment: “Looking ahead, we’re excited to have Michael in this important role, and view this rapid transition as an early success of our Avantax integration. He was a natural choice for Cetera leadership based on his experience and the role he played in growing Avantax.”

“I couldn’t be happier to build on Cetera’s momentum by blending in the success we’ve had at Avantax,” said Molnar, who’ll be working in close collaboration with Cetera’s leadership, its board, and strategic partners at Genstar Capital.

A New York City resident, Molnar previously held significant roles at notable firms including Goldman