Oct 1 (Reuters) - LPL Financial Holdings ( LPLA ) on

Tuesday fired its CEO Dan Arnold for violating the company's

code of conduct and appointed chief growth officer Rich

Steinmeier as the interim chief.

The wealth management firm said the move followed an

investigation by an external law firm which found that Arnold

made statements to employees that violated the company's policy.

James Putnam, chair of the LPL's board, said the code of

conduct required every employee to foster a supportive and

professional workplace, adding that Arnold failed to meet those

obligations.

The newly named interim CEO Steinmeier joined LPL in 2018

from UBS Financial. He held key roles at McKinsey & Co and

Merill Lynch before he moved to UBS in 2012, as per LPL's

website.

Shares of LPL, which have gained about 1% so far in 2024,

were down 5% in trading after the bell.