Stuart DePina Steps down as President; Tony Leal named President of EnvestNet WealthTech Group
Envestnet has announced organizational changes to the Envestnet financial wellness ecosystem by streamlining its business into three business lines: Envestnet Solutions, Envestnet Data and Analytics, and Envestnet WealthTech. The new structure is designed to enable Envestnet to further help the wealth industry deliver an Intelligent Financial Life™ for its clients and marks the next chapter of growth for Envestnet.
Envestnet announces three Group Presidents for the new business lines. Dana D’Auria has been named Group President and Co-Chief Investment Officer, Envestnet Solutions; Farouk Ferchichi has been named Group President, Envestnet Data and Analytics; and Tony Leal has been named Group President, Envestnet WealthTech. Tom Sipp will serve as Envestnet’s Executive Vice President, Business Lines, and provide leadership to bring the parts of the Envestnet organization together to meet the evolving needs of advisors, banks, FinTechs, and their clients through data and wealth solutions.
“This new structure marks a pivotal moment for Envestnet and sets the direction and pace of our company for the next decade of growth,” said Bill Crager, Co-Founder and CEO, Envestnet. “Aligning our business lines in this way allows us to better innovate and integrate our data intelligence, technology, and solutions for customers, and execute on strategies that align with our vision to provide as many people as possible with the benefit of the Intelligent Financial Life.”
In addition, Envestnet has announced that Stuart DePina has decided to step down from his role as President at the end of June. Mr. DePina will remain an advisor to Envestnet. Since joining Envestnet 10 years ago, Mr. DePina has led Envestnet’s Tamarac and Data and Analytics businesses, as well as served as the company’s President since 2019. Throughout his time with the company, Mr. DePina has championed the continued development of Envestnet’s data aggregation, enterprise data management, and analytics offerings that have supported the company’s growth among its wealth management, financial institution, and FinTech customers.
“Stuart and I have been partners for over 10 years, and he has been instrumental in how we have grown over those years—and importantly, how we have brought the company more closely together over these last two years. We have been working to put in place an organization that will drive Envestnet forward, and Stuart has been key in making today’s announcements possible,” said Mr. Crager. “His impact will continue to be felt by our customers and shareholders for years to come, and I am so pleased he has agreed to continue on this journey with us as an advisor.”