United Financial Inc., a Denver-based brokerage firm, has named Thomas M. Piercy president, succeeding Richard V. Schmitz, who remains chief executive.

Mr. Schmitz recently became chairman of the parent company, Matrix Capital Corp.

Mr. Piercy had been senior vice president at United Financial. He has been a director of Matrix Capital since 1993. Before joining the company in 1990, he was a managing director of Lincoln Financial Group.

Michael B. Chastain was named executive vice president and chief operating officer of United Financial.

He had been director of strategic planning.

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