Scottrade, which has been on the hunt for a CMO since February, this week filled the position in-house.
The financial services brand elevated Kim Wells to the post. Wells had formerly served as director of branding and Web site marketing for Scottrade. She will now lead the firm's overall strategy in advertising, branding, public relations, marketing research and direct marketing, according to a Scottrade representative.
Wells replaces Chris Moloney, who left in February to become svp and CMO of Experian’s consumer direct business, which includes freecreditreport.com and freecreditscore.com.
In January, Moloney, working with former Anheuser-Busch chief creative officer Bob Lachky, launched an ad campaign featuring Chad, an obnoxious trader from an unnamed rival firm who keeps losing clients to Scottrade.
Gearon Hoffman, an independent agency in Boston, has long been Scottrade's lead agency.
Ad spending is on the rise, with a paid-media outlay of $14.4 million in the first half of 2010 already topping the $14 million the client spent during all of last year, per Nielsen.