Bill Crager to step down as CEO of Envestnet
US-based managed solutions service provider Envestnet has announced that its co-founder Bill Crager is to step down from his role as CEO, effective 31 March 2024.
Bill Crager steps down as CEO of Envestnet (Image: LinkedIn)
Crager co-founded the company with the late Jud Bergman in 1999, and has closely attended its helm in the 24 years since, generating $5.4 trillion in client assets as of Q3 2023.
Upon his departure from the company’s leadership, Crager is due to transition into the role of senior advisor, working alongside executive vice president Tom Sipp and board chair James Fox on the management of client and partner relationships, and the execution of the company’s strategic initiatives.
With this, Fox is set to step into the role of interim CEO, effective 1 April, while the board instigates its search for a more permanent successor.
Speaking on the transition, Crager says the move will grant him the time and opportunity to “focus on what I have always loved doing”, namely “growing Envestnet’s relationships and empowering our clients to provide holistic financial advice and solutions”.
“This transition gives me a front-row seat for our next chapter and I look forward to continuing our journey.”
Headquartered in Berwyn, Pennsylvania, Envestnet offers a range of wealth management, financial planning, and data and analytics solutions that it claims have been adopted by 16 of the 20 largest US banks, 48 of the 50 largest wealth management and brokerage firms and more than 500 of the largest RIAs.
