Dow Jones

NEW YORK— Stephen Laffey, president and chief operating officer of Morgan Keegan, resigned last week.

Mr. Laffey, who was promoted in July, left the Memphis regional brokerage after its chairman, Allen Morgan, named Doug Edwards its second in command, a company spokeswoman said. Mr. Edwards is expected to succeed Mr. Morgan, 58, when he retires, though it is unclear when that will be.

Mr. Edwards, who was vice chairman, was given the additional title of president after Mr. Laffey’s departure, the spokeswoman said.

Mr. Laffey could not immediately be reached for comment. Morgan Keegan was bought by Regions Financial Corp. in late March.

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