DriveWealth announces Michael Blaugrund as Chief Executive Officer

Rick Steves

“Michael is the best possible leader to take DriveWealth to the next stage and build on our foundation. Everyone who has worked with Michael knows he is not only knowledgeable and capable, but a strong and committed leader. I can’t wait for this new chapter and look forward to working with him to support our mission of democratizing investing around the world.”

DriveWealth has announced the appointment of Michael Blaugrund as Global Chief Executive Officer (CEO) of the embedded finance pioneer.

Robert Cortright, the DriveWealth founder and current CEO, will transition to the role of Executive Chairman. In his new role, he will continue to shape the strategic vision at DriveWealth.

Michael Blaugrund’s appointment comes weeks after DriveWealth announced former Morgan Stanley executive Jason Pizzorusso as Global CFO.

DriveWealth said it intends to leverage both Michael Blaugrund and Jason Pizzorusso’s extensive knowledge in financial services and brokerage technology, as well as a track record of leading teams through periods of pivotal growth and change, in order to prepare to launch new products in 2023.

Michael Blaugrund was COO of NYSE

Michael Blaugrund joins DriveWealth from the New York Stock Exchange (NYSE), where he recently served as Chief Operating Officer, overseeing strategy and operations of the NYSE Group’s five equity exchanges and two options exchanges.

He joined NYSE in 2016 as Head of Equities and then Head of Transactions. He was responsible for the exchange’s trading and data businesses, including all aspects of product development, commercial policy, market structure positioning, and relationship management.

Prior to NYSE, Michael Blaugrund was the Director of Business Development at Tower Research Capital, where he was responsible for expanding the firm’s global market access and developing strategic assets. He also previously led U.S. equity product strategy at NASDAQ and held product management roles at Thomson Reuters. He also served on the boards of SIAC, the Options Clearing Corporation, and tZERO.

“Michael is the best possible leader to take DriveWealth to the next stage”

Robert Cortright, founder and current CEO of DriveWealth, said: “Michael is the best possible leader to take DriveWealth to the next stage and build on our foundation. Everyone who has worked with Michael knows he is not only knowledgeable and capable, but a strong and committed leader. I can’t wait for this new chapter and look forward to working with him to support our mission of democratizing investing around the world.”

Michael Blaugrund, incoming CEO of DriveWealth, commented: “I am delighted to join DriveWealth, the leading platform for global companies to deliver financial services in a modern, efficient, and compliant fashion. I have long admired Bob’s vision to transform the investing landscape, and look forward to working with him, the Board, and our exceptional team to expand DriveWealth’s offerings in support of our more than 100 global partners.”

With over $550 million in funding raised to date, DriveWealth is committed to driving profitable growth and making a positive impact in the industry by democratizing investing via its embedded finance platform featuring fractional shares.

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