People Moves
There's A New CEO At Envestnet

There has been speculation on who will be the permanent CEO at the firm since the Bain Capital transaction in October.
Envestnet, the US platform and tech group that was bought by Bain Capital in 2024, has appointed Chris Todd as its new permanent CEO. He is taking over from Jim Fox, who has served in the role ad interim.
Todd most recently served as chief executive of UKG (Ultimate Kronos Group), a privately held software company.
“Together with Chris, this team is poised to leverage Envestnet’s capabilities and chart an ambitious path forward,” Phil Loughlin, partner at Bain Capital, said in a statement.
This is a major assignment for Todd. When this publication examined Bain Capital’s strategy last October, an outside candidate rather than an insider was regarded as the most likely outcome – and so it has come to pass.
The business needs to step up amid competitive threats. As FWR’s US correspondent Charles Paikert noted at the time, Envestnet may be an industry Goliath, but it is being attacked by many Davids, in addition to traditional legacy rivals such as Orion, SEI and AssetMark.
Envestnet has more than $6.5 trillion in platform assets, over 20 million accounts, and a network of more than 111,000 financial advisors. It works with wealth managers, RIAs, and broker-dealers.
Earlier this week, Envestment argued in a report that two themes will dominate the advisor and RIA landscape going forward: Enhancing portfolio outcomes for clients by addressing underperforming products, and leveraging tax strategies such as tax-loss harvesting.