Investors Capital Holdings Ltd. has a new president and chief executive.
Timothy B. Murphy has replaced Theodore E. Charles, who will continue as chairman of the board and focus on assisting the firm in “strategic areas,” according to a statement by the firm.
Mr. Murphy, a longtime executive with the firm, is also now president and chief executive of the firm’s independent-contractor broker-dealer, Investors Capital Corp.
Investors Capital, with close to 700 affiliated reps, is based in Lynnfield, Mass.
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