ÍøÆØ³Ô¹Ïlls Fargo Divisional Head Vanderveen Steps Down
From the Desk of Jim Eccleston at ÍøÆØ³Ô¹Ï:
One of eight regional directors monitoring ÍøÆØ³Ô¹Ïlls Fargo Advisors’ private client group departed the firm last week after a leave of absence that lasted several weeks.
According to a ÍøÆØ³Ô¹Ïlls Fargo spokeswoman, Keith Vanderveen has retired after spending the past two decades in management roles at the firm. Vanderveen had been promoted to be Southeast divisional manager last March. According to BrokerCheck, Vanderveen previously served as regional president for ÍøÆØ³Ô¹Ïlls’ Florida territory prior to March.
Vanderveen likely ran into issues after a fired complex manager in Florida, Joseph Bruno, submitted a 4,500-word letter critiquing Vanderveen to at least 250 ÍøÆØ³Ô¹Ïlls employees and senior executives last September, according to sources familiar with the matter and as reported by AdvisorHub. While the firm did not publicly address the letter, the potential for controversy might have prompted Vanderveen to accelerate his retirement plans. Bruno was terminated last August over “workplace conduct inconsistent with Company standards relating to professionalism and anti-retaliation”, according to his Form U-5 termination notice.
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