DriveWealth, a financial technology platform providing Brokerage-as-a-Service, has hired Venu Palaparthi as its chief operating officer. Palaparthi will oversee DriveWealth’s risk and compliance functions, and contribute to the company’s ongoing international expansion. He begins on Sept. 16, reporting to CEO Michael Blaugrund.
“We have thoughtfully expanded our leadership team in recent months as we prepare for our next phase of growth and continue to expand our operations across the globe,” said Blaugrund. “Venu will play a key role in these efforts, working with the rest of senior leadership to ensure our platform is designed for regulatory compliance as it scales and supports a broader range of investment opportunities.
“We’re fortunate to have hired someone with such deep financial market expertise and look forward to all that he will bring to DriveWealth.”
Palaparthi brings nearly 30 years of experience in financial markets across asset classes, products and jurisdictions. In his most recent role as managing director at Patomak Global Partners, he was responsible for advising clients on business and regulatory strategy, risk management and a wide variety of compliance solutions spanning securities, commodities, fintech and cryptocurrency.
Palaparthi has also held several senior positions at institutions including Nasdaq, Virtu Financial, Tagomi Holdings (now part of Coinbase Institutional), and Dash Financial Technologies. He also served on the SEC Equity Market Structure Advisory Committee’s Market Quality Subcommittee, the FINRA Small Firm Advisory Committee and the Shanghai Gold Exchange International Advisory Board. Palaparthi was also a distinguished fellow at the Center for Financial Markets and Policy at Georgetown University.
“I’m thrilled to join DriveWealth at such an exciting time as the company embarks on its next stage of growth,” said Palaparthi. “DriveWealth’s world-class technology and global approach are unmatched. I look forward to helping further establish the company as the go-to global partner of choice for tech-forward asset managers, banks and broker-dealers, digital wallets and consumer brands looking to deliver seamless investing experiences to their end clients.”
A graduate of India’s Birla Institute of Technology and Science (BITS) Pilani, Palaparthi received dual economics and computer science undergrad degrees before earning an MBA from the University of Texas at Arlington. He also received a Distinguished Alumnus award from BITS in 2011. Palaparthi holds FINRA Series 7, 14, 24, 27 (FINOP), 56 and 63 licenses.
Palaparthi’s hiring follows recent strategic moves across DriveWealth’s senior leadership team including the promotions of Jason Pizzorusso as President, Marcus Anthony as Chief Financial Officer, and Emily Ellis as Chief People Officer, as well as the hiring of former Morgan Stanley leaders Kyla Murphy as chief product officer and Lauren Veisz as head of operations.
Founded in 2012, DriveWealth’s technology platform allows established companies and emerging digital-native firms to provide securities trading to their clients. In addition to its patented fractional trading and Brokerage-as-a-Service API technologies, DriveWealth has a fully featured institutional trading capability that includes order routing, clearing, custody, stock loan, enhanced liquidity, and NYSE Floor execution.