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Waddell & Reed Financial announces leadership changes

Thomas Butch has stepped down as executive vice president and chief marketing officer of Waddell & Reed Financial Inc. and as president of Waddell & Reed Inc. and Ivy Distributors Inc.

Brent Bloss was named COO and will continue to serve as CFO through the filing of the company's annual report on Form 10-K for the year ended Dec. 31. The board plans to appoint Benjamin Clouse as CFO to succeed Bloss in 2018.

Moreover, Nikki Newton, who is currently the head of global relationship management for Ivy Distributors, will become its president. Waddell & Reed Inc. COO Shawn Mihal will become its president.