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Technology > Investment Platforms

Ex-TD Ameritrade, USAA Execs Join Envestnet

By Jeff Berman

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What You Need to Know

  • Neel Ray is the latest TD Ameritrade executive to leave that firm since Schwab purchased the company.
  • The new hires are part of Envestnet's continued investments to expand its financial wellness ecosystem.
  • Farouk Ferchichi previously was chief data and analytics officer at USAA.

Envestnet has added four financial services and technology industry veterans, including former TD Ameritrade and USAA executives, to its executive and leadership teams as part of continued investments to expand its financial wellness ecosystem, Envestnet said Wednesday.

The new Envestnet leadership team members are Neel Ray, head of mergers and acquisitions, and Jillian Munro, group head of data and analytics technology.

Ray previously served as managing director at TD Ameritrade, leading that company’s fintech investing practice. Before joining that company in 2018, he held leadership positions at Merrill Lynch and TIAA-CREF, according to his LinkedIn profile.

He is the latest TD Ameritrade executive to leave that firm since just before Charles Schwab closed its acquisition of TD Ameritrade in October. Dani Fava, who had led innovation for TD Ameritrade Institutional since 2016, left the company in July and joined Envestnet as head of strategic development.

In addition to overseeing M&A, Ray will “partner across all Envestnet business lines to further advance the company’s corporate development efforts,” the company said Wednesday. He reports to Rich Aneser, chief strategy officer.

In her newly created role, meanwhile, Munro reports to Bob Coppola, Envestnet chief technology officer, and “will work closely with him to continue to strengthen investment in financial data aggregation capabilities and insights from Envestnet | Yodlee — and align them with Envestnet’s wealth management ecosystem,” it said.

She will also manage teams and “initiatives seeking to accelerate Envestnet | Yodlee’s global leadership in data aggregation, payments, credit, and wealth use cases,” it said.

Prior to joining Envestnet, Munro served as chief technology officer of the startup payments platform Spreedly. Before that, she was head of technology for Fidelity Digital Assets, where she was responsible for Fidelity Investments’ digital currency technology, Envestnet said.

The new Envestnet executive team members are Farouk Ferchichi, chief data and analytics officer, and Mary Ellen Dugan, chief marketing officer.

Ferchichi previously served as chief data and analytics officer at USAA, where he managed the firm’s enterprise data analytics portfolio. Before that, he served as chief data officer and head of BI and analytics at Toyota North America.

He reports to Stuart DePina, Envestnet president, and “will seek to drive business growth by implementing innovative best practices for aligning, scaling, and using data, analytics, and artificial intelligence across the Envestnet ecosystem,” Envestnet said.

Dugan, who also reports to DePina, “will focus on further driving Envestnet’s business and brand growth by implementing high-performance marketing strategies that align with the company’s aggressive vision for expansion,” it said. She will also “streamline marketing efforts across Envestnet business lines, and utilize data and analytics to optimize business and brand growth,” it said.

Prior to joining Envestnet, she served as chief marketing officer at the technology startup WP Engine, a WordPress digital experience platform. She has also held marketing leadership roles at Indeed.com and Dell Technologies.

“Adding external talent whose expertise and experience complement the dedication and goals of our internal teams is key for ensuring we meet client demand for an intelligently connected financial life,” according to DePina.

“By continuing to invest in our people and resources across the C-suite, data and analytics, M&A, and marketing, we are positioned to deliver the future framework of financial intelligence and advice within a unified, hyper-personalized ecosystem,” he said in the announcement.

More than 106,000 advisors across more than 5,100 companies — including 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of fintech companies — now leverage the Envestnet platform to grow their businesses and client relationships, it said.

(Image: Shutterstock)

Jeff Berman

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