Woodbury Financial selected its new president and CEO from within the ranks, tapping former vice president of and field development Rick Fergesen to lead the firm Monday.
Fergesen takes over the role as president and CEO in charge of leading Woodbury’s 1,2000 advisors from former president Pat McEvoy, who resigned in December. McEvoy’s departure hit just months after Larry Roth’s resigned as then-head of AIG’s Advisor Group—which includes Woodbury Financial, Royal Alliance Associates, SagePoint Financial and FSC Securities. Roth then joined Nicholas Schorsch's RCS Capital as CEO in September.
“Over the past two months, we visited with a number of candidates for this important role, both internally and externally,” said Advisor Group's President and CEO Erica McGinnis on Monday.
Fergesen, who joined Oakdale, Minn.-based Woodbury in 1998 as vice president of strategic and operational planning, has held a variety of positions within the company over the years, including being named chief financial officer in 2001. Fergesen was also key in helping implement an integration plan after Advisor Group acquired Woodbury in 2012.
In a statement Monday, Fergesen said he was very excited for the opportunity to lead the firm. “We have made tremendous enhancements to our firm in recent years, offering Advisor Group’s industry-leading technology platform, enhanced support tools and services and more. I am excited about the future of Woodbury Financial and our ability to serve the evolving needs of today’s financial advisors.”