MOUNTAIN VIEW, Calif., June 17, 2020 /PRNewswire/ -- Addepar, a leading technology platform for wealth management, today announced that Ruchir Swarup has joined the company as Chief Technology Officer. Swarup joins Addepar after serving for 19 years as Managing Director at BlackRock, the world's largest asset manager, where he was responsible for strategy, design, and development of Post Trade capabilities of the firm's flagship Aladdin platform, used globally by BlackRock and Aladdin clients. He was also a member of BlackRock's Global Operating Committee.
At Addepar, Swarup will head up all technology teams, including data engineering, platform and product engineering. He will further accelerate the company's research and development across the Addepar platform, and will spearhead the development of future products that will elevate the experience and results for the full range of wealth and investment managers.
Addepar currently manages data for nearly $2 trillion in assets on the platform and serves more than 400 family offices, RIAs and banks. Thousands of advisors use Addepar to run their business and deliver top-notch client outcomes. Addepar's platform processes millions of accounts and transactions each day, and integrates natively with a wide range of best-in-class systems using its open platform architecture.
"Ruchir is a brilliant technologist and visionary leader with outlier talents in building innovative, scalable and secure technology products and platforms in financial services," said CEO Eric Poirier. "Addepar continues to meaningfully expand the power and value of our platform and products, and we sought a leader to take our technology team and stack far into the future. Ruchir's incredible technical capabilities and decades of knowledge and experience in skillfully leading teams at Wall Street's most respected financial institutions will help us accelerate the transformation we deliver to our clients. We share a passion and mission for leveling up this industry so that our clients can make more confident and data-driven investments and efficiently allocate capital at scale."
Swarup joins the executive team on the heels of Addepar's recent launch of its alternatives marketplace. The introduction of Marketplace signified the evolution of Addepar from a data aggregator and performance reporting product to a broader platform that unifies purpose built software and access to financial products. Swarup will leverage his experience to continue the momentum of product innovation, deepen the solutions for Addepar's existing clients and enable the expansion of Addepar's business into new segments and markets.
"What attracted me to Addepar was its track record of innovation, the team's audacious challenge of the status quo, and a drive to create intuitive products that unlock the best client experience and outcomes," said Swarup. "Addepar has already made a meaningful impact on wealth management with the elegance, speed and scale of its platform, and I'm energized to join this talented organization that brings together the best of Silicon Valley with the best of Wall Street to take on such an exciting challenge. Technology is needed more than ever to support the modern advisor, and ultimately, I believe Addepar will be the company that sets a higher standard,, bringing much-needed transparency to how capital is allocated and managed across public and private asset classes around the world."
Swarup spent the first 15 years of his career in Japan, serving in several technology and leadership roles at IBM, Dell, Merrill Lynch, and BlackRock. Swarup also led post-acquisition investment platform integrations with Merrill Lynch Investment Managers and Barclays Global Investors, across the Asia Pacific region. He earned his Bachelor's degree in Computer Engineering from the Pune Institute of Computer Technology.
Addepar is a wealth management platform that specializes in data aggregation, analytics and reporting for even the most complex investment portfolios. The company's platform aggregates portfolio, market and client data all in one place. It provides asset owners and advisors a clearer financial picture at every level, allowing them to make more informed and timely investment decisions. Addepar works with hundreds of leading financial advisors, family offices and large financial institutions that manage data for over $1.7 trillion of assets on the company's platform. In 2020, Addepar was named as a Forbes Fintech 50 and in 2018 received Morgan Stanley's Fintech Award for making a significant impact on the firm's mission of continuous innovation. Addepar is headquartered in Silicon Valley and has offices in New York City and Salt Lake City. All brokerage services offered through Acervus Securities Inc., member FINRA / SIPC.