Drivewealth Announces Hiring Of Venu Palaparthi As Chief Operating Officer

Former Managing Director at Patomak Global Partners brings regulatory strategy, risk management and compliance experience to DriveWealth senior leadership team

NEW YORK--(BUSINESS WIRE)--DriveWealth, a leading financial technology platform providing Brokerage-as-a-Service, announced today the hiring of Venu Palaparthi as its new Chief Operating Officer. In this role, Palaparthi will oversee DriveWealth’s risk and compliance functions, in addition to lending his strategic expertise to the company’s ongoing international expansion. He will begin in his new role on September 16th and report to Michael Blaugrund, CEO of DriveWealth.

“We have thoughtfully expanded our leadership team in recent months as we prepare for our next phase of growth and continue to expand our operations across the globe,” said Blaugrund. “Venu will play a key role in these efforts, working with the rest of senior leadership to ensure our platform is designed for regulatory compliance as it scales and supports a broader range of investment opportunities. We’re fortunate to have hired someone with such deep financial market expertise and look forward to all that he will bring to DriveWealth.”

Palaparthi brings nearly 30 years of experience in financial markets across asset classes, products and jurisdictions. In his most recent role as Managing Director at Patomak Global Partners, he was responsible for advising clients on business and regulatory strategy, risk management and a wide variety of compliance solutions spanning securities, commodities, fintech and cryptocurrency.

Palaparthi has also held a number of senior positions at prominent financial institutions including Nasdaq, Virtu Financial, Tagomi Holdings (now part of Coinbase Institutional), Dash Financial Technologies and more.

Additionally, Palaparthi has served in a number of thought leadership roles within the financial industry, including as a member of the SEC Equity Market Structure Advisory Committee’s Market Quality Subcommittee, the FINRA Small Firm Advisory Committee and the Shanghai Gold Exchange International Advisory Board. He has also served as a Distinguished Fellow at the Center for Financial Markets and Policy at Georgetown University.

“I’m thrilled to join DriveWealth at such an exciting time as the company embarks on its next stage of growth,” said Palaparthi. “DriveWealth’s world-class technology and global approach are unmatched. I look forward to helping further establish the company as the go-to global partner of choice for tech-forward asset managers, banks and broker dealers, digital wallets and consumer brands looking to deliver seamless investing experiences to their end-clients.”

A graduate from Birla Institute of Technology and Science (BITS) Pilani, Palaparthi received dual economics and computer science undergrad degrees as well as an MBA from the University of Texas at Arlington. He also received a Distinguished Alumnus award from BITS in 2011. Palaparthi holds FINRA Series 7, 14, 24, 27 (FINOP), 56 and 63 licenses.

Palaparthi’s hiring as Chief Operating Officer follows recent strategic moves across DriveWealth’s senior leadership team as the company looks to build and expand its global presence and strategy. These moves include the promotions of Jason Pizzorusso as President, Marcus Anthony as Chief Financial Officer, and Emily Ellis as Chief People Officer, as well as the hiring of former Morgan Stanley leaders, Kyla Murphy as Chief Product Officer and Lauren Veisz as Head of Operations

Founded in 2012, DriveWealth’s technology platform allows both established companies and emerging digital-native firms to provide securities trading to their clients simply, efficiently, and in a compliant fashion. In addition to its patented fractional trading and Brokerage-as-a-Service API technologies, DriveWealth has a fully featured institutional trading capability that includes order routing, clearing, custody, stock loan, enhanced liquidity, and NYSE Floor execution.

To learn more about DriveWealth’s technology and services, contact salesops@drivewealth.com.

About DriveWealth:

DriveWealth is a global B2B financial technology platform. Our core business is providing Brokerage-as-a-Service, powering the investing and trading experiences for digital wallets, broker dealers, asset managers, and consumer brands. DriveWealth’s APIs provide our partners with a modern, extensible and flexible toolkit to develop everything from traditional investment workflows to more innovative techniques like rounding up purchases into fractional share ownership. www.drivewealth.com.

Contacts

Media:
Caliber Corporate Advisers
drivewealth@calibercorporate.com

First published on Fri, Sep 6, 2024

Enjoyed what you read? Great news – there’s a lot more to explore!

Dive into our content repository of the latest tech news, a diverse range of articles spanning introductory guides, product reviews, trends and more, along with engaging interviews, up-to-date AI blogs and hilarious tech memes!

Also explore our collection of branded insights via informative white papers, enlightening case studies, in-depth reports, educational videos and exciting events and webinars from leading global brands.

Head to the TechDogs homepage to Know Your World of technology today!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs' site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

DriveWealth financial technology Brokerage-as-a-Service risk management compliance COO Venu Palaparthi

Join The Discussion

Financial Technology