Envestnet appoints global head of data and analytics

Financial technology company Envestnet has promoted its chief data and analytics officer Farouk Ferchichi to lead the global data and analytics business.

Expanding on his previous responsibilities to enable financial wellness, Ferchichi will work to advance the financial wellness ecosystem through data and analytics, across Envestnet, Yodlee, Envestment Analytics and Abe AI.

According to Bill Crager, CEO of Envestnet, “Envestnet uses data and technology to support millions of decisions people make about money every single day. Farouk and his team will drive the execution of our global data strategy, and further strengthen our leadership in the data and analytics industry.”

Before joining the business in 2021, Ferchici was the chief data and analytics officer at USAA, partner in Gartner’s data and analytics advisory practice, chief data officer and head of BI and analytics at Toyota North America, as well as leadership positions at Accenture and Citi.

Ferchichi is currently serving as a board member at FeLT NYC, promoting cross-cutlural education, and at The Minority Freedom Community Fund, to improve the lives of minorities in the USA.

Discussing his recent appointment Ferchici said, “I am humbled and ready to take on this unique opportunity to lead our Global Data and Analytics business.

“Across Envestnet, we have a shared mission of helping our customers guide their clients toward financial wellness, and our data and analytics business is the foundation by which we can create and deploy personalised and actionable insights and intelligence into the Envestnet ecosystem.”

According to Crager, “As our financial lives become more digital, data-powered, and intelligent, Envestnet Data and Analytics is incredibly well positioned to drive the industry change that is immediately ahead, and Farouk is the best person to lead us on our path forward.”

Envestnet works with over 108,000 advisors and 6000 companies, including 18 of the largest US banks and 47 of the largest wealth management firms, working to drive better outcomes using technology solutions and intelligence.