Axos Clearing, the clearing and custody arm of Axos Financial, has brought on Gil Addeo as senior vice president of business development, a newly created position. Addeo joins from FIS, a banking and payments technology provider, where he served as a manager director in FIS’s commercial lending division.
Addeo will report to David Crow, executive vice president and head of Axos Clearing. He’ll be responsible for expanding Axos Clearing’s reach within the U.S. and Latin America.
The addition is key to the company’s goal of expanding its services to independent brokers/dealers and RIAs. Axos Clearing currently has $33 billion in assets under management across 65 IBDs and 233 RIA clients.
Prior to FIS, Addeo was an executive vice president of global business development at Atlas FinTech Holdings, a financial services firm that provides specialized banking services.
Axos has been building out its clearing and custody capabilities over the last several years. In 2021, it bought E*Trade Advisor Services, the RIA custody business acquired by Morgan Stanley in 2020 as part of its $13 billion takeover of E*Trade. The firm has since been on a mission to rejuvenate and repurpose technology originally developed by Trust Company of America over a decade ago—all the while quietly laying the groundwork to bring in the business of advisors with between $50 million and $500 million in assets.
