Vestmark hires ex-E*TRADE CEO Karl Roessner
“I couldn’t be more excited to work with Mike and the rest of the team to grow the business and broaden our services and solutions.”
Vestmark has announced the appointment of former E*TRADE chief executive Karl Roessner as CEO.
The Boston-headquartered provider of wealth management software offers portfolio management/trading solutions through its SaaS platform that currently supports over $1.5 trillion in assets and over 5 million accounts.
The hiring of Karl Roessner opens a new chapter at Vestmark, who will see its previous CEO Mike Blundin entering the newly created role of President and COO, and working in close colaboration with Roessner.
Karl Roessner to lead Vestmark expansion, Mike Blundin to head core business
Karl Roessner will be in charge of Vestmark’s vision and strategic direction, including new business growth, expansion into new adjacent product lines and broadening Vestmark’s partnerships across the fintech ecosystem.
Mike Blundin will focus on Vestmark’s core business supporting client success, internal operations, the VestmarkONE platform development, the firm’s advisory services including direct indexing, and service programs for Vestmark’s asset management and wealth management clients.
Michael Blundin, President and COO at Vestmark, commented: “As I have gotten to know Karl over the last year, it became clear that his unique combination of commercial and industry expertise, executive leadership, board-level experience and enthusiasm for Vestmark perfectly complements the skills and focus of our executive team. I couldn’t be more thrilled to collaborate closely with Karl toward advancing our mission of building more sophisticated, personalized and scalable investment solutions for clients across the wealth spectrum while growing Vestmark’s footprint in new markets.”
Karl Roessner, CEO at Vestmark, said: “Vestmark is uniquely positioned to combine its deep investment expertise with innovative, scalable and robust technology to transform the way we invest. I couldn’t be more excited to work with Mike and the rest of the team to grow the business and broaden our services and solutions.”
Karl Roessner joined board at OANDA for his role at E*TRADE
Karl Roessner is an industry veteran with over 25 years of executive management, board engagement and public company experience, as well as a deep understanding of the capital markets.
He is widely known for his role as CEO at E*TRADE Financial Corporation, where he also served as a member of its Board of Directors, but he was most recently CEO of Lefteris Acquisition Corp., a fintech focused SPAC.
At E*TRADE, Karl Roessner was not only chief executive at E*TRADE Financial Corporation but also President of E*TRADE Bank, where he was key in the development and execution of plans that generated a significant increase in revenue. He is directly responsible for the improved banking offerings and consistent account growth in E*TRADE.
In August 2021, FX and CFD broker OANDA appointed Roessner as non-executive director. “A seasoned professional in the retail trading industry, he brings with him extensive strategic and operational expertise that will add considerable strength to our advisory team at a critical time in the firm’s history. We believe he will be a tremendous asset to OANDA as we continue on our journey to becoming one of the largest multi-asset brokers in the world”, said OANDA’s CEO Gavin Gambury at the time.