Axos Clearing, the clearing and custody arm of Axos Financial, has brought on Gil Addeo as senior vice president of business development, a newly created position. Addeo joins from FIS, a banking and payments technology provider, where he served as managing director of FIS's commercial lending division.
Addeo will report to David Crow, executive vice president and head of Axos Clearing. He will be responsible for expanding Axos Clearing's reach within the US and Latin America.
The addition is central to the company's goal of expanding its services to independent broker/dealers and RIAs. Axos Clearing currently has $33 billion in assets under management across 65 IBD and 233 RIA clients.
Prior to FIS, Addeo was executive vice president of global business development at Atlas FinTech Holdings, a financial services firm that provides specialty banking services.
Axos has been building its cleaning and storage capabilities over the past few years. In 2021, she purchased E*Trade Advisor ServicesRIA custody business acquired by Morgan Stanley in 2020 as part of its $13 billion acquisition of E*Trade. The firm has since been on a mission to innovate and repurpose technology originally developed by Trust Company of America over a decade ago — all the while quietly laying the groundwork to bring the business of advisors with assets from $50 million to $500 million.