Retail investment advisory firm and independent broker-dealer LPL Financial, a wholly owned subsidiary of LPL Financial Holdings, has announced that Michelle Oroschakoff, current managing director and chief risk officer, will expand her responsibilities to include oversight of the firm’s legal and government relations functions as chief legal and risk officer, effective June 9.

Oroschakoff takes over general counsel duties following the departure of David Bergers, who will be departing LPL to accept a position in private practice.

Oroschakoff joined LPL in 2013 from Morgan Stanley, where she was the global chief risk officer for Morgan Stanley Wealth Management. She is responsible for company-wide risk management processes and controls, managing compliance and governance and enhancing the corporate risk profile as chair of LPL’s risk oversight committee. Earlier in her career at Morgan Stanley, she spent 18 years in a variety of legal, risk and compliance roles, including global chief compliance officer for Wealth Management, and associate general counsel and head of the firm’s San Francisco litigation department.

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