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After Envestnet rebuffed an ESG hedge fund's demand for a board seat, the fund managers sent a shrill, scalding letter in retaliation to force the issue

The Berwyn, Pa., firm invited invective by allegedly stiff-arming the startup ESG fund's request, even though it holds a 7.2% stake in the company.

Author Brooke Southall November 16, 2022 at 2:49 AM
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Lauren Taylor Wolfe: Management and the board seem to have attempted Kabuki theater.

Related Moves

Bill Crager makes critical hire of 'step back from the numbers,' Joshua Warren, replacing 'brother' Pete D'Arrigo at CFO; Warren had a big role at BlackRock -- Envestnet's biggest stakeholder

The Envestnet CEO gets 'very, very impressive' 43 year-old BlackRock exec; the New York asset manager happens to be Envestnet's largest stakeholder.

September 27, 2023 at 2:48 AM

Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo

The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says

January 7, 2023 at 1:50 AM

Envestnet just named an ESG head to meld 'wellness,' 'The Intelligent Financial Life' and 'sustainable investing' into a single nirvana -- that starts outside of the product realm

Ron Ransom earned CEO Bill Crager's trust as chief business development officer and now will define how Envestnet conducts itself as a global citizen and vendor of wellness.

July 27, 2022 at 2:27 AM

November 18, 2022 at 2:56 AM

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Envestnet Inc
Top Executive: Jud Bergman

Brian Patrick Murphy

Brian Patrick Murphy

November 16, 2022 — 7:44 PM
Impactive is correct - Envestnet has skated along far too long without delivering anything new of real value to the investment community. To the extent the market allows such a concern to trade at the ridiculous multiple it does based on a turnaround story, probably has more to do with easy money than any real expectations of an organic turnaround occuring. I side w/ Impactive on this - but seems like they're going to have to raise their stake to 15%, or wait for the company's shares to collapse before they get any traction. Impactive will get an opportunity, they'll just need to be patient.

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