Tony Miller, who has served as president of Janney Montgomery Scott since 2023, has been appointed CEO of the broker/dealer. He’ll also continue to serve as president.
The chief executive role was last filled by Tim Scheve, who served as president and CEO from 2007 to 2023, when he stepped down. Scheve will join Janney’s board of managers as an independent board director.
Miller has been with Janney since 2002 in various roles, including director of internal audit, treasurer and chief financial officer. Prior to being named president in 2023, he served as chief administrative officer, overseeing operations, technology, finance and corporate services.
“The future is bright at Janney, as evidenced by four consecutive years of record revenue—a testament to our commitment to delivering personalized advice and exceptional client service,” Miller said in a statement. “At the core of our success are our talented employees, who are all now proud owners of the firm.”
This follows news in July that Penn Mutual Life Insurance Company would sell Janney to private equity firm KKR after 42 years of ownership. That deal closed last year, and it allows Janney to create a broad-based equity ownership program for its 2,300 employees.
As of the end of last year, Janney had over $150 billion in assets under advisement. The firm said it added 27 financial advisors in 2024, including from Baird, Citizens, Fidelity, Kestra, LPL, Merrill Lynch and others, with more than $4.3 billion in assets.