GREAT FALLS, Mont.--(BUSINESS WIRE)--D.A. Davidson Companies, an employee-owned full-service investment firm based in the Northwest, has named company president Jim Kerr to succeed Bill Johnstone and become the company’s new chief executive officer, effective January 2015. At that time, Johnstone will retire as CEO while continuing to serve as executive chairman. Michael Purpura, executive vice president, has been promoted to president of the Individual Investor Group of D.A. Davidson & Co., effective October 1, 2014.
Kerr joined the company in 2005 and was named president of Davidson Companies in 2012. Previously he was president of the Individual Investor Group, a division he still actively managed until Purpura’s promotion became effective this week.
“Jim is exceptionally well-qualified to become Davidson’s next CEO; he has nearly 40 years of experience in the industry and brings broad, deep industry knowledge and proven leadership talent to the position,” said Johnstone. “As D.A. Davidson embarks on its 80th year next year, there is no better person than Jim to lead the company to continued success.”
Since starting his career as an investment broker at Foster & Marshall in 1976, Kerr has held leadership positions at several financial firms, including Dain Bosworth, Ragen MacKenzie and Ragen MacKenzie-Wells Fargo. Kerr also serves on the boards of directors of D.A. Davidson Companies and D.A. Davidson Trust Company.
Purpura joined D.A. Davidson & Co. in 1996 and has since played a vital role in expanding the Individual Investor Group and has served as a trusted adviser to members of the leadership team. In 2013, Purpura helped facilitate Davidson’s successful merger with Crowell, Weedon & Co., a Los Angeles-based full-service stock brokerage and money management firm.
“I am honored to have the opportunity to lead such an esteemed and unique regional brokerage, and I admire what Bill has achieved over the last decade in guiding Davidson to the industry-leading position it is in today,” Kerr said. “Davidson’s Individual Investor Group is in capable hands under the leadership of Michael Purpura, who possesses exceptional knowledge of our firm and our industry and has consistently demonstrated strong leadership capabilities and a sense of what’s right for our clients and the firm.”
As the company prepares to celebrate 80 years in business next year, it recently announced a new company name, D.A. Davidson Companies, logo and tagline. The new logo, which features a bison, and the tagline “The Strength of Advice™,” signify the company’s power, Western heritage and focus on the future.
About D.A. Davidson Companies
Employee-owned D.A. Davidson Companies offers a range of financial services and products to clients nationwide. Founded 79 years ago, the company is headquartered in Montana, with major business hubs also in Denver, Los Angeles, Portland and Seattle.
D.A. Davidson Companies’ best-known subsidiary, D.A. Davidson & Co., is the largest full-service investment firm based in the Northwest, and provides financial advice and services for investors, as well as a range of equity and fixed income capital markets services. D.A. Davidson Companies also operates Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For more information, visit www.davidsoncompanies.com or Twitter: @dadavidsonco.