Waddell & Reed hires outsider as regulatory exec

Terry Lister, who has been chief regulatory officer for 10 years, is retiring from Waddell & Reed Financial Inc. He will be replaced by Shawn Mihal. Lister, who also serves as chief compliance officer, is a 37-year veteran of the financial services industry. Prior to Waddell & Reed, he served as general counsel and director of government affairs for the Financial Services Institute. He also has experience as general counsel with Cambridge Investment Research Inc. as well as working for 16 years…