DriveWealth appoints ex-Morgan Stanley Jason Pizzorusso as CFO
“His expertise and extensive knowledge across both finance and technology will be instrumental in driving our growth and global expansion, and ensuring that we continue to deliver the best possible products and experience to our partners and their customers.”
DriveWealth has appointed Jason Pizzorusso as Global Chief Financial Officer, where he will lead the strategy and development of the company’s global growth.
Jason Pizzorusso joins DriveWealth after 16 years at Morgan Stanley, most recently as CFO of the Wealth Management segment where he played a pivotal role in the E*Trade acquisition as well as numerous organic growth initiatives.
He also held various business, operations, finance, and technology roles over his career at Morgan Stanley, including the technology lead of the platform conversion for the Morgan Stanley Smith Barney integration.
Building a global brokerage marketplace
Bob Cortright, Chief Executive Officer at DriveWealth, said: “Jason is an exceptional leader with a proven track record of success in our industry. His expertise and extensive knowledge across both finance and technology will be instrumental in driving our growth and global expansion, and ensuring that we continue to deliver the best possible products and experience to our partners and their customers.”
Jason Pizzorusso, Chief Financial Officer at DriveWealth, commented: “I’m thrilled to be joining DriveWealth’s executive team, and I’m excited about the opportunity to join an innovative technology company that is well positioned to achieve significant growth. The chance to work with a talented team that is committed to building a global brokerage marketplace is truly extraordinary. I look forward to leveraging my experience to help drive growth and ensure that we continue to deliver innovative solutions that make a difference.”
DriveWealth leverages multi asset class OMS built by Adaptive
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 through embedded finance technology and fractional shares.
In mid-2022, the renowned fintech investment rail and pioneer in fractional investing deployed a new ultra-low latency proprietary trading system delivered by Adaptive Financial Consulting.
The fintech giant ordered the new trading system from Adaptive in order to address the increased demand in its retail brokerage business and respond to requests from a growing number of fintechs who are looking to add U.S. equity markets trading capabilities.
Already parntered with more than 100 brokers across the globe, DriveWealth isn’t backing down any time soon as it continues to serve millions of traders using the firm’s software through third party retail platforms.
Built using Adaptive’s Aeron Solution Accelerators in close coordination with DriveWealth’s core trading team, the new order management system (OMS) handles significant order volumes and will be inittially supporting all internalized orders for U.S. equities fractional trading, with other asset classes to follow.
The Adaptive-DriveWealth partnership has resulted in a well functioning and ultra-low latency OMS built on top of the open source Aeron Transport and Aeron Cluster solutions, said the announcement.