What You Need to Know
- Onramp Invest co-founder Tyrone Ross disclosed on Tuesday that he stepped down as its CEO.
- Envestnet's Dani Fava said in response that she decided to step down from Onramp's board.
- Neither of them gave a reason for Ross leaving the firm.
Tyrone Ross unexpectedly stepped down as CEO of Onramp Invest, less than eight months after he announced that trading started on the company’s crypto-asset integration and education platform for financial advisors.
On Tuesday morning, Dani Fava, head of strategic development at Envestnet, tweeted that, “following Tyrone’s resignation, I’ve made the personal decision to step down from the @Onrampinvest board.”
Replacing Ross, who co-founded the company and had served as its public face since its creation in 2020, was co-founder Eric R. Ervin, a financial services industry veteran who also is CEO of Blockforce Capital, Onramp said Tuesday.
Neither Fava nor Ross, in a statement on Medium Tuesday announcing his departure from Onramp, provided a reason why he left the firm and they, like Ervin, did not immediately respond to requests for comment.
Responding to ThinkAdvisor by email, Nyle Bayer, Onramp’s chief marketing officer, said:
“We couldn’t be more grateful for all of the time Tyrone spent with us, on us, and for us. He will always be a part of our DNA, from his E.A.T. acronym (Education. Access. Tools.) to the gratitude we close every meeting with. We are humbled to be a piece of his shining legacy!