Wells Fargo Names New Head of First Clearing
Wells Fargo has appointed Leeann Markovitz as head of First Clearing, Wells Fargo’s RIA clearing and custody service. Markovitz, a former director of relationship management at First Clearing, succeeds Al Caiazzo, who will retire at the end of the year.
Caiazzo has been with the firm for over 40 years, becoming president of First Clearing in 2023 following John Peluso’s exit. After his departure, Peluso joined Thurston Springer, an Indianapolis-based RIA and broker/dealer, and helped that firm launch an RIA services network.
In 2019, Peluso played a key role in launching Wells Fargo’s fee-only RIA channel.
Before joining First Clearing in 2024, Markovitz served as executive vice president, head of affluent client solutions, at Wells Fargo. She also previously served as managing director and director of relationship management at Wells Fargo Advisors.
“Leeann’s deep industry knowledge, collaborative approach, and passion for supporting firms make her the ideal leader to guide First Clearing into its next chapter,” said Erik Karanik, head of Independent Solutions at Wells Fargo, which includes First Clearing and Wells Fargo Advisors Financial Network. “Her leadership will strengthen our commitment to helping firms compete and succeed by delivering premier technology and innovative solutions that empower them to grow and serve clients more effectively.”
This follows news in March that Wells Fargo Advisors hired Megan Hausmann as director of business development for the West in the firm’s RIA Solutions channel. Hausmann was previously with Apex Clearing Corp. as senior director of advisor success.
TradePMR, the Florida-based technology and custodial services provider acquired by Robinhood earlier this year, partners with First Clearing.
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