DriveWealth Chief Executive Officer Michael Blaugrund is returning to his former employer, NYSE owner Intercontinental Exchange Inc., and will be replaced by industry veteran Naureen Hassan.
Blaugrund, who spent two years at the helm of the fintech platform for broker-dealers and registered investment advisers, will rejoin ICE next month to work on strategic initiatives, he said in an interview.
Hassan, who left UBS Group AG last year after serving as president of its Americas unit, has more than two decades of financial industry experience, including a stint at the Federal Reserve Bank of New York.
She was previously chief digital officer within Morgan Stanley’s wealth business and was an executive vice president at Charles Schwab Corp., where she led the firm’s investor-services strategy.
Blaugrund had spent seven years in various leadership roles at the New York Stock Exchange and rose to become chief operating officer, before leaving in 2023 to replace DriveWealth founder Robert Cortright as CEO.
“Under Michael, DriveWealth has been growing very fast, and my goal is to continue to accelerate that,” Hassan said in an interview. “We want to offer a full suite of brokerage capabilities.”
DriveWealth, with about 340 employees, provides technology for brokers and RIAs to execute and clear trades, as well as custodial services. It operates in markets worldwide, including the U.S., U.K., European Union, South Korea, Australia, New Zealand and Brazil.
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