CHICAGO, Nov. 11, 2013 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV), a leading provider of integrated wealth management technology and services to investment advisors and wealth managers, today announced the engagement of Zachary Karabell as Head of Global Strategy. In this role, he will help shape and communicate Envestnet's investment perspective and deep research capabilities to clients and the media alike and advise the Investment Committee of Envestnet | PMC® in connection with PMC's portfolio solutions.
In addition to crafting market strategy and providing regular commentary about the global economy and financial markets, Mr. Karabell will work with the senior management of Envestnet on overall corporate strategy, branding and market position.
"Envestnet is dedicated to helping advisors translate a torrent of market and investment information into intelligence that directly supports better investment outcomes," said Bill Crager, President, Envestnet. "Zachary's deep asset management expertise and global perspective in combination with his skills as a compelling commentator and educator will be invaluable to advisors endeavoring to synthesize complex market dynamics and relate them to their practices in ways that build client loyalty and wealth."
Mr. Karabell has an extensive career in financial services. He was previously Executive Vice President, Chief Economist and Head of Marketing at Fred Alger Management, a New York-based investment firm managing approximately $19 billion in mutual funds and institutional accounts. At Alger, Mr. Karabell led the creation, launch and marketing of several funds as well as corporate strategy for strategic acquisitions. He was also President of broker-dealer Fred Alger & Co., Portfolio Manager of the five-star China-U.S. Growth Fund (CHUSX) and Executive Vice President of Alger's Spectra Funds, a no-load family of mutual funds that included the Spectra Green Fund.
"Envestnet is the wealth management company for the 21st Century," said Mr. Karabell. "Its impressive platform empowers advisors to stay focused on the long term, and smart analytics along with unique market insights are key components. I look forward to working with my colleagues to help advisors navigate the constant change in our world today and to helping Envestnet to continue to grow as it provides smarter and ever-more robust solutions."
Mr. Karabell earned his Ph.D. from Harvard University and has taught at several institutions, including Harvard and Dartmouth College. He has written 11 books on economics, investing, history and international relations, and was designated a "Global Leader for Tomorrow" by the World Economic Forum in 2003. Mr. Karabell also writes the "Edgy Optimist" column for Reuters and The Atlantic, and serves as a commentator on CNBC and MSNBC. His next book, The Leading Indicators, will be published by Simon & Schuster in early 2014.
ABOUT ENVESTNET (NYSE: ENV)
Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective and fully-aligned standard of care, and empower advisors to deliver better results.
Envestnet's Advisor Suite® software empowers financial advisors to better manage client outcomes and strengthen their practice. Envestnet provides institutional-quality research and advanced portfolio solutions through our Portfolio Management Consultants group, Envestnet | PMC®. Envestnet | Tamarac provides leading rebalancing, reporting and practice management software.
For more information on Envestnet, please visit www.envestnet.com.
Jami Schlicher, JCPR
SOURCE Envestnet, Inc.