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Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain

The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.

Author Lisa Shidler January 9, 2024 at 4:09 AM
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Bill Crager: The work we just completed opens the gateway to the future of advice.
Brooke Southall and Keith Girard contributed to the editing of this article.

Smj

Smj

January 9, 2024 — 5:57 AM
What will the new activist investors do differently compared to the founding management? What the activist investors claimed to hate last year, before winning two board seats, was that Bill Crager was reinvesting cash flow into overhauling the company’s software. How will New Management give Envestnet a market edge without taking a similar approach - namely taking a step back to move forward?
Unknown

Unknown

January 10, 2024 — 9:09 PM
Envestnet has been poorly run for a long time. Crager provided a steady hand for awhile but new leadership needs to take an axe to bloat and start delivering value to shareholders.

Related Moves

Envestnet shares popped -- up 8% today -- after Wall Street filtered out bad news and staked its bet on confidence in a new team

The Berwyn, Pa., firm sugar-coated nothing but ended up with a sweet stock price result as analysts see good outweighing bad.

February 24, 2024 at 3:33 AM

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

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Mentioned in this article:

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Top Executive: Timothy D. Welsh

Envestnet Inc
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Top Executive: Jud Bergman



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