Robert Thomas Securities Lands Legg Mason Exec for Push into Bigger Banks
Talley, Karen, American Banker
Reginald C. Rogers Jr., the founding president of Legg Mason's investment products marketing firm, has jumped ship to help a larger rival expand its bank business.
Mr. Rogers, who ran Legg Mason's Bankers Financial Partners for the past three years, began Monday as executive vice president with the financial institutions division of Robert Thomas Securities.
In joining the Robert Thomas bank group, Mr. Rogers is teaming with a firm that operates discount or full-service third-party marketing programs for 100 banks, including South Carolina institutions Palmetto Bank in Greenville and First National South in Marion.
Mr. Rogers said this breadth, compared with the 12 banks his former company counted as clients, drew him.
"This was a better opportunity in terms of more banks and brokers to work with," he said.
He added that his reduction in title - from president to executive vice president - was more than compensated by an increase in salary. "Financially it was a very, very rewarding opportunity to make the move," he said.
In fact, industry experts believe that Legg Mason's tight purse strings may have frustrated Mr. Rogers and driven him away. "He was operating under a limited budget," said one analyst.
Mr. Rogers acknowledged tight financial oversight, but said he was not hamstrung by it. …