As part of a major restructuring, Berwyn-based Envestnet has parted ways with president Stuart DePina, who stepped down after 10 years with the company, writes Brooke Southall for RIABiz.
Envestnet, the administrator of $5 trillion in assets for 106,000 third-party financial advisors, will now have three operating divisions: Solutions, Data and Analytics, and WealthTech.
The company has also promoted a quartet of younger, more digital leaders who represent its next generation of leadership.
Dana D’Auria will serve as Envestnet’s co-chief investment officer and lead Envestnet Solutions. Tony Leal has been promoted to the position of group president of Envestnet WealthTech, while Farouk Ferchichi will head Envestnet Data and Analytics. Meanwhile, Tom Sipp will serve as the company’s executive vice president of business lines.
“This new structure marks a pivotal moment for Envestnet and sets the direction and pace of our company for the next decade of growth,” said Bill Crager, Evestnet CEO and co-founder. “Aligning our business lines in this way allows us to better innovate and integrate our data intelligence, technology, and solutions for customers and execute on strategies that align with our vision to provide as many people as possible with the benefit of the Intelligent Financial Life.”
Read more about Envestnet at RIABiz.