Envestnet CEO Bill Crager to Step Down
Envestnet, Inc. announced that Bill Crager is stepping down as CEO effective March 31, 2024. Crager will continue as a senior advisor beginning April 2024, focusing on client and partner relationships.
Tom Sipp, EVP, will continue to lead the business lines along with Crager and Board Chair James L. Fox, who will serve as interim CEO as of April 1, 2024, until a successor is in place.
With the assistance of an independent executive search company, the board of directors will begin a search for a successor, evaluating both internal and external applicants.
“For more than 24 years, it has been my privilege and honor to work with Envestnet, creating an industry leader. We now serve more assets, more financial advisors, and more accounts than anyone in the marketplace. Together, we have built a more integrated, cohesive organization with a connected operating platform that provides a gateway to the future for the industry,” said Crager.
Crager co-founded the company in 1999 with the late Jud Bergman, who died in 2019. Envestnet has expanded to $5.4 trillion in client assets and over 107,000 advisors served by trading, risk analysis, direct indexing, tax management, data aggregation and enrichment, client prospecting, and estate planning during Crager’s leadership.