Envestnet has introduced the appointment of Chris Todd as chief govt officer, efficient instantly.
He succeeds interim CEO and board chairman Jim Fox, who has held the function since CEO and Envestnet co-founder Invoice Crager stepped down in March of 2024.
Whereas Todd is little identified within the wealth administration trade, he brings govt expertise constructing software program platforms for giant enterprises. He was most lately CEO of UKG (Final Kronos Group), a privately held know-how firm targeted on workforce administration and human useful resource software program with some 12,750 staff.
UKG fashioned after the merger of Final Software program and Kronos in 2022. Todd spent greater than two years as president of Kronos Inc. and one other two years as president of the present mixed agency. Between the 2 companies, he has spent greater than 17 years in senior govt roles.
In his farewell submit on LinkedIn, Todd mentioned that when he joined Kronos in 2007, “it was a $600M firm, promoting on-premise software program and timeclocks. Since then, we have now constructed a world SaaS chief that can quickly be $5B in annual income whereas offering important HR and workforce administration companies to hundreds of thousands of individuals every single day.”
Todd has an undergraduate diploma from Harvard College and a regulation diploma from Yale Legislation College. He sits on the board of Utilized Methods, a world know-how agency that gives software program to the insurance coverage trade.
“I can’t wait to see what all of us can do to proceed on our mission to make monetary wellness a actuality for everybody,” Todd wrote in a LinkedIn submit saying his appointment to Envestnet.
“Chris’ appointment marks an thrilling milestone for Envestnet’s subsequent chapter. Envestnet has established a number one place inside the wealth trade, supported by an unimaginable govt management crew. Along with Chris, this crew is poised to leverage Envestnet’s capabilities and chart an formidable path ahead,” wrote Phil Loughlin, accomplice at Bain Capital, in in the present day’s ready assertion.
Bain Capital completed its acquisition of Envestnet in November with the non-public fairness agency paying about $4.5 billion for the enterprise, which was delisted from the NYSE and have become a personal firm once more.
Envestnet has greater than 20 million accounts, representing $6.5 trillion in property on its platform and works with a community of greater than 111,000 monetary advisors.
