American asset management firm Waddell & Reed Financial has named Elizabeth Beth Hansen as the new senior vice president and chief compliance officer of its subsidiaries Waddell & Reed and Ivy Distributors.

Hansen succeeds Mihal, who has now taken over the role of president at Waddell & Reed.

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In the new role, Hansen will manage compliance process for Waddell & Reed and sales for Ivy Distributors.

Moreover, she will also be responsible for compliance surveillance, interpretation and application of regulatory rules, and offering recommendations on the design and implementation of compliance and risk management programmes.

She will report to Waddell & Reed Financial executive vice president and general counsel Wendy Hills.

Hansen, who has an experience of 26 years in the financial services industry, is joining Waddell & Reed from Ameriprise Financial Services.

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She had an 18-year stint at Ameriprise holding various senior roles including vice president and chief compliance officer of American Enterprise Investment Services, and vice president and chief compliance officer of Ameriprise Financial Services.

Waddell & Reed Financial CEO Philip Sanders said: “Beth has a strong background in driving compliance strategy, risk awareness, training, and crafting effective policy. Her experience and knowledge further help ensure we are implementing appropriate risk mitigation processes and initiatives in all aspects of our sales and distribution affiliates.”