Envestnet, Inc. (NYSE: ENV) reveals that Farouk Ferchichi has been named Global Head of Envestnet Data and Analytics, bringing together the capabilities of Envestnet | Yodlee, Envestnet Analytics (Wheelhouse), and Abe AI.
This strengthened data and analytics focus under Ferchichi’s leadership is “integral to Envestnet delivering on its vision to empower all individuals to live an Intelligent Financial Life.”
In this role, Ferchichi will aim to “advance the data and analytics business for Envestnet’s financial wellness ecosystem, harmonizing and connecting all parts of a person’s financial life so that their daily actions speak to and help support their long-term financial goals.”
Bill Crager, CEO of Envestnet, stated:
“As our financial lives become more digital, data-powered, and intelligent, Envestnet Data and Analytics is incredibly well positioned to drive the industry change that is immediately ahead, and Farouk is the best person to lead us on our path forward. Envestnet uses data and technology to support millions of decisions people make about money every single day. Farouk and his team will drive the execution of our global data strategy, and further strengthen our leadership in the data and analytics industry.”
Ferchichi joined Envestnet back in March 2021 as Chief Data and Analytics Officer and has been “focused on transforming Envestnet’s data strategy and laying the foundation to introduce innovative solutions to new markets.”
Before Envestnet, Ferchichi held global Chief Data Analytics roles at USAA and Toyota, global consulting partner roles “with Accenture and Gartner, as well as functional roles in risk management, manufacturing and non-profit.”
Ferchichi remarked:
“I am humbled and ready to take on this unique opportunity to lead our Global Data and Analytics business. Across Envestnet, we have a shared mission of helping our customers guide their clients toward financial wellness, and our data and analytics business is the foundation by which we can create and deploy personalized and actionable insights and intelligence into the Envestnet ecosystem.”
As mentioned in the update, Envestnet “refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc.”
Envestnet is “Fully Vested™ in empowering advisors and financial service providers with innovative technology, solutions, and intelligence to help make financial wellness a reality for their clients through an intelligently connected financial life.”
More than 108,000 advisors and over 6,000 companies—”including 18 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies—leverage Envestnet technology and services that help drive better outcomes for enterprises, advisors, and their clients.”
