A number of present senior executives shall be entering into new roles amid what Envestnet refers to as organizational modifications introduced on Tuesday. These modifications embody formally reordering the expertise large’s many choices into distinct enterprise models. Particularly, the agency has create three models: Options, Information and Analytics, and WealthTech.
Dana D’Auria has been named group president of Envestnet Options and continues in her current function of co-chief funding officer (which she has held for nearly two years). The Options unit contains analysis, overlay, portfolio administration, direct indexing, sustainable investing and retirement providers. This additionally contains the agency’s partnerships with its exchanges and third-party wealth and asset administration service suppliers.
On the helm of the Information and Analytics unit shall be Farouk Ferchichi. This unit combines what beforehand was Envestnet | Yodlee, Envestnet Analytics and Envestnet Abe.ai. amongst different instruments. Ferchichi joined the agency in March 2021 as chief knowledge and analytics officer.
Tony Leal will head up the agency’s new WealthTech unit. Leal helped lead the venerable monetary planning utility MoneyGuide Professional since its founding in 1997 and thru its acquisition by Envestnet in 2019. Envestnet WealthTech will comprise the wealth expertise options and platforms that serve the agency’s advisory buyer base and embody each the MoneyGuide and Tamarac platforms, in addition to end-client instruments.
Tom Sipp will function Envestnet’s government vp, enterprise strains, serving to to supervise and coordinate between the three models.
Additionally a part of the announcement was the departure of longtime government Stuart DePina, who shall be stepping down on the finish of June. He most not too long ago served as Envestnet’s president below CEO Invoice Crager. Previous to that, he had run the Yodlee unit and was Tamarac’s CEO on the time of Envestnet’s acquisition in 2012.