Envestnet Makes Senior Management Changes

Tom Burroughes

11 January 2019

, the US-based firm providing technology and data to wealth managers announced this week that Anil Arora, chief executive of the Envestnet | Yodlee business stepping down from the post. He will remain at the firm, however.

The firm made a number of other senior management changes.

Arora joined Yodlee in 2000, leading the firm from start-up to its initial public offering and Envestnet’s subsequent acquisition of the firm. In the three years since that purchase, Yodlee’s revenue nearly doubled while profitability increased more than five-fold. Arora leaves his post at the end of February.

Envestnet Wealth Solutions is led by CEO Bill Crager, and he will focus on innovation and market growth of the company’s wealth management solutions, which serve RIAs, independent broker dealers, banks and other financial institutions. Crager currently runs the company’s enterprise business. Envestnet Data & Analytics is now led by Stuart DePina as CEO. DePina currently runs the company’s Tamarac business.

Envestnet told Family Wealth Report that it was restructuring its business lines, moving from three business lines to two, retaining the Yodlee and Tamarac brands. The new lines - Envestnet Wealth Solutions, and Envestnet Data & Analytics replace the Envestnet Wealth Platform, Envestnet | Tamarac and Envestnet | Yodlee business lines.