Somesh Khanna Elected to LPL Financial Board of Directors

LPL Financial Holdings Inc. (Nasdaq: LPLA), a prominent wealth management firm, has announced the election of Somesh Khanna as an independent director to its board. This strategic appointment, effective immediately, brings a wealth of experience and expertise in digital strategy and financial services to LPL.

Background of Somesh Khanna

Somesh Khanna currently serves as a senior advisor at McKinsey & Company and holds the position of executive co-chair at Apexon, a firm specializing in artificial intelligence and digital-first solutions. In addition, Khanna is a board member of KeyCorp and Persado, reflecting his extensive involvement in the financial sector.

With over three decades of leadership experience in consulting and financial services, Khanna has exhibited profound expertise in digital transformation and organizational enhancement. His tenure at McKinsey, which began in 1998, saw him co-lead the global banking and securities practice and manage McKinsey Digital for financial services globally.

What This Means for LPL Financial

Jim Putnam, chair of the LPL board of directors, highlighted Khanna’s extensive experience as a crucial asset that aligns with the company’s growth strategies, stating, “His expertise in digital transformation, AI, and data-driven strategic planning will be invaluable as we continue to innovate and meet the evolving needs of financial advisors, institutions, and their clients.”

In Khanna's words, “LPL plays a critical role in empowering financial professionals to help millions of Americans progress toward financial security. It's a noble purpose, and one that LPL has proven to lead across the industry.” His commitment to contributing to LPL’s success underscores the firm’s objective to enhance client services further.

Educational Qualifications

Khanna’s academic credentials include a master’s degree in management from Northwestern University’s Kellogg School of Management, a postgraduate diploma in management from the Indian Institute of Management Calcutta, and a bachelor’s degree in chemical engineering from the Indian Institute of Technology New Delhi. These qualifications bolster his capability to contribute significantly to LPL’s board.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is recognized as one of the fastest growing wealth management firms in the U.S. The company supports over 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions. With around $2.3 trillion in brokerage and advisory assets, LPL is dedicated to providing diverse advisor affiliation models, investment solutions, fintech tools, and practice management services to empower its advisors.

For more information about LPL, visit www.lpl.com.