Envestnet Leadership Transition:
- CEO Departure: Bill Crager, co-founder of Envestnet, is stepping down from his role as CEO, effective March 31, 2024.
- Transition to Senior Advisor: Following his departure as CEO, Crager will transition into the role of senior advisor. In this capacity, he will work alongside executive vice president Tom Sipp and board chair James Fox to manage client and partner relationships and execute strategic initiatives.
- Interim CEO: James Fox is set to become the interim CEO of Envestnet, effective April 1, while the board initiates the search for a permanent successor.
- Founding and Achievements: Crager co-founded Envestnet with the late Jud Bergman in 1999. Under his leadership, the company has accumulated $5.4 trillion in client assets as of Q3 2023.
- Focus on Relationships: In his new role as senior advisor, Crager aims to focus on growing Envestnet’s relationships and empowering clients to provide holistic financial advice and solutions.
- Envestnet Overview: Envestnet, headquartered in Berwyn, Pennsylvania, provides wealth management, financial planning, and data and analytics solutions. The company claims adoption by major banks, wealth management firms, and RIAs.
- Leadership Transition Journey: Bill Crager expresses excitement about the leadership transition, stating that it gives him a front-row seat for Envestnet’s next chapter, and he looks forward to continuing the journey.
In summary, Bill Crager is stepping down as Envestnet’s CEO after 24 years, transitioning to the role of senior advisor. James Fox will take on the role of interim CEO as the company searches for a permanent successor. Crager aims to focus on relationships and empowering clients in his new role.
