News

Company growth goal of new D. A. Davidson president, Ron Tschetter

The new president of D.A. Davidson & Co. http://dadco.com/ says his primary mission is to help the Great Falls-based brokerage firm grow, both in Montana and in other states.

Ron Tschetter, 62, a former executive of what is now RBC Dain Rauscher, a brokerage firm based in Minneapolis, will join D.A. Davidson on July 1.

By JAMES E. LARCOMBE
Tribune Business Editor

http://www.greatfallstribune.com/news/stories/20040511/localnews/394270.html

Tschetter formerly served as president of Dain Rauscher’s private client group. During his tenure, the group grew from about 200 to 1,200 financial consultants in 90 offices, along with more than 1,000 other employees in other roles. D.A. Davidson currently employs about 250 financial consultants in 35 offices.

"We expect Ron to pursue a similar growth pattern with the Davidson Companies," said Bill Johnstone, the chief executive of financial services firm, which includes Davidson Trust, Davidson Investment Advisors and Davidson Travel.

Tschetter will be responsible for all of D.A. Davidson’s retail operations, including branch offices and staff, retail research and development of investment products. He assumes the role vacated by Johnstone when he stepped into the CEO role.

Johnstone and Ian Davidson, the Davidson Companies chairman, said the brokerage firm is fortunate to land someone with Tschetter’s experience. Both said they have known the South Dakota native as a competitor and securities industry leader for several decades.

"This is a great day for the company," Davidson said of Tschetter’s hiring. "He’s probably the outstanding executive in all the regional firms in this industry."

Tschetter left Dain Rauscher in 2001, shortly before the investment firm was purchased by the Royal Bank of Canada. At the time, he intended to retire.

He was contacted last year by Johnstone and Davidson, who wondered if he would serve on the Davidson Companies board of directors. He agreed.

"I had wanted to stay connected to the industry," Tschetter said. He learned of the search for a president for the brokerage shortly after starting his board term in January.

In fact, Johnstone had called seeking advice on hiring when Tschetter said "I’m actually kind of interested in that position," Johnstone recalled Monday.

Tschetter said he mentioned the job opening to his wife, Nancy, who urged him to think about seeking the post, noting he was "not the sit-on-the-beach kind of guy."

Tschetter said both and his wife are looking forward to their move to Great Falls and work with the employee-owned Davidson Companies.

"You have a solid, deep culture here that resonates with me a lot," he told Johnstone and Davidson at a news conference Monday. "This is not a company that is hurting at all. It’s in great shape."

D.A Davidson is the largest of the four Davidson Companies, which employ about 720 workers in eight states in the Northwest and Intermountain West. The company has about 250 employees in its Great Falls headquarters.

Tschetter says the company’s existing markets in Montana and other states offer good growth opportunities as markets in other states in region. While the company has done well in urban markets such as Seattle and Portland, its future may rest in mid-size communities in the West.

There are opportunities for growth in Colorado, where the company recently opened its first retail brokerage office in Colorado Springs, and also room to expand in places such as Nevada, Tschetter said, noting in particular the allure of Reno.

Smaller communities may offer the best chance to leverage the D.A. Davidson name with potential investors, he said, adding the hand-on, full-service style of the firm should also play well in non-urban areas.

"The people that live in those places identify with a company like D.A. Davidson," Tschetter said.

Johnstone said Tschetter’s familiarity with the D.A. Davidson territory is a real bonus.

"He knows our region and the nature of the markets, not only geographically, but the character of our clients," said the Davidson Companies CEO.

Posted in:

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.