Investigation Forces Edward Jones To Select New Managing Partner

Financial services firm Edward Jones selected Jim Weddle, 52, as the new managing partner to succeed Douglas E. Hill, who will step down effective December 31, 2005. Hill is required to step down as managing partner of the firm as

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Financial-services firm Edward Jones selected Jim Weddle, 52, as the new managing partner to succeed Douglas E. Hill, who will step down effective December 31, 2005.

Hill is required to step down as managing partner of the firm as part of a December 2004 agreement with the U.S. Attorney for the Eastern District of Missouri. The agreement followed a lengthy investigation and negotiations between the firm and regulators, primarily focused on revenue sharing payments made to the firm by mutual fund vendors.

Weddle began his career at Edward Jones in 1976 as an intern working part time in the Research Department. He completed his M.B.A. in 1977 from Washington University, he moved to Connersville, Ind., to establish the firm’s 200th branch.

Weddle became a limited partner at Edward Jones in 1981 and in 1984 moved to St. Louis for a sales and training position. A year later, he assumed responsibility for mutual fund sales and marketing, continuing this role for the next four years. Weddle was named to the firm’s management committee in 1986, and in 1989, he moved to branch administration and became the area leader responsible for developing the entire East Coast, one of the firm’s key targeted growth areas.

Weddle is now responsible for all branch administration, including IR compensation and recognition, branch facilities and the identification and development of future management talent from the Edward Jones sales force.

A 1988 graduate of the University of Pennsylvania Wharton School’s Securities Industry Institute, Weddle served as a trustee of the institute from 1989 until 1993 and served on the Continuing Education Committee of the Securities Industry Association from 1994 through 1996.

He received his undergraduate degree from DePauw University in 1975.

“I’m delighted to announce Jim Weddle as the new managing partner of Edward Jones,” said Bob Virgil, chairman of the firm’s succession committee. “He brings the range of skills, experience and wisdom essential to the firm’s continued success.”

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