FSC Securities Corp. has named Derek Burke as its new president and CEO.
He is succeeding Jerry Murphy, who is leaving to become a partner at one of FSC's largest OSJ groups. A subsidiary of Advisor Group Inc., one of the nation's largest networks of independent financial advisers, FSC currently manages $37 billion in client assets.
Burke is responsible for developing and implementing the strategic direction of FSC's business and implementing growth initiatives designed to capture significant opportunities emerging from Advisor Group’s proactive navigation of the fiduciary era.
Most recently Burke was president of independent broker-dealer Waddell & Reed.
In addition, Burke was the managing director of UBS America’s Wealth Management platform, COO of New York Life’s Investment Management Group and chief compliance officer for Prudential’s private asset management business.
Burke started his career as an enforcement attorney with the U.S. Securities & Exchange Commission in New York and then as a litigation associate with Collier, Jacob & Mills, P.C.
Burke earned a Juris Doctor degree from Rutgers Law School and a Bachelor of Science degree in finance from Seton Hall University.