Robert L. Hechler is retiring as executive vice president and COO of Waddell & Reed Financial, effective Dec. 31. Mr. Hechler, who has been with the company for 33 years, will remain a member of the board of directors.
Mr. Hechler’s position will not be filled. His responsibilities will be distributed among senior vice presidents Thomas W. Butch, chief marketing officer; Michael D. Strohm, COO; John E. Sundeen Jr., CFO; and Robert J. Williams Jr., national sales manager. Mr. Strohm will assume Mr. Hechler’s title of president of Waddell & Reed Inc., the company’s broker/dealer subsidiary.