Cadaret, Grant & Co. announced Wednesday that Norlyn Poto, senior vice president, will be retiring in mid-March. Poto has overseen the marketing department at the firm, and has been with the company for the past 23 years. Prior to that, she was vice president at Bankers’ National Life (BNL), which merged with Cadaret, Grant in 1987 to form the present firm.
Mentored by some of the top names in the business, including Sir John Templeton and Don Spiro of OppenheimerFunds, Poto has served on and led many industry councils, boards, groups and conferences. She has also, as marketing director, been responsible for the launch of a number of the firm’s prominent campaigns.
“In her field and her specialty and position,” Art Grant, president and CEO of the firm, told AdvisorOne, “I think she’s the most competent person I know.” While her longevity at the firm and her understanding of the business have been invaluable, her impending departure need not give anyone cause for concern, he adds.
“We are very well staffed, and people are very well trained; she feels confident doing this at this time,” Grant said. “Her business plan is very thorough. … Norlyn and I see very much eye to eye on key relationships, and I think we’re very well positioned.”
In the announcement of her departure, Grant said Poto has had a “powerful influence on our firm and the industry. One measure of a successful firm is the ability of a top leader and shareholder to retire early. Such is the case with Norlyn.”
Evidence of her organization and leadership, he said, was that the company was so well equipped to handle the transition to a new marketing leader. “The ultimate tribute to Norlyn’s leadership is that she leaves a totally prepared department [that] ... will continue to deliver at the high level of standards that are well established.”
The firm expects to name her successor in mid-February.