Refinitiv today announced the appointment of Joseph Mrak as global head of wealth management. In this role Mr. Mrak will lead the global wealth management business with a focus on doubling down on driving technology innovation, developing key regional and global partnerships, expanding global reach and growing value for clients and prospects. Refinitiv’s wealth management business supports a significant number of established and emerging wealth customers providing global, regional and emerging market wealth platforms across the Americas, Europe, and Asia. 

The latest Refinitiv report on “Digitalization of Wealth Management” reveals that key factors defining today’s wealth management industry include keeping up with new technology, staying relevant to the next generation of investors and finding ways to integrate artificial intelligence (AI) into investment decision making and client-servicing, as well as ensuring scalability and robustness in core transaction platforms such as BETA. Refinitiv remains committed to providing customers with leading edge solutions, data, insights, and the advanced technology and expertise needed to succeed.  

“As the wealth management industry continues to transform, the challenge and opportunity, is helping ensure that wealth firms and their advisors are better equipped with the AI, advanced analytics, insight, technology and tools to meet their clients rapidly evolving investment and service needs,” said David Craig, CEO of Refinitiv. “We welcome Joseph Mrak to Refinitiv. His insight and industry experience are key factors for us to deliver next-generation, bold and meaningful technology solutions that fuel the businesses of our global wealth customers and the wider markets.”

Most recently Mr. Mrak was the Chairman and CEO at FolioDynamix. He then became a Group President at Envestnet post acquisition in 2018. FolioDynamix/Envestnet provides intelligent digital systems for wealth management and financial wellness in the United States and internationally. Prior to FolioDynamix Mr. Mrak held key executive division leadership roles at CheckFree (now FiServ) and Citigroup.

Mr. Mrak and his team will engage global customers, industry groups, key partners and industry leaders to drive the next level of innovation in the wealth management space across Refinitiv’s Thomson One, Eikon, and Beta platforms, and the next wave of digital solutions, with a key focus on driving advisor efficiency.  Joe will also evaluate partnerships that create value for current clients providing tighter integration across the wealth management segment. From a global perspective Mr. Mrak and his team will work closely with customers and prospects to evaluate the emerging underserved global markets in Asia Pac and South America.

“I have great passion for the wealth management industry and I am very excited to join Refinitiv to make a significant global impact on clients and the industry,” said Joseph Mrak. “As a long-time partner to the business in my previous role as CEO of FolioDynamix I know first-hand that at Refinitiv we have some tremendous assets with a proven history of success that we will look to advance and augment to provide enhanced value for our clients and prospects. It is an exciting time in the industry and across the global markets for the evolution of wealth management and I am looking forward to making a tremendous impact.”

After four years and a strong contribution, David Akellian, the current Managing Director and global head of wealth management, had decided to leave Refinitiv at the end of the year. He will work with Joe over the next seven months to ensure a smooth transition.

Refinitiv Wealth Management solutions provide seamless integration across front, middle, and back office workflows that enable better informed decisions, timely communication, and relevant insights. Refinitiv’s best of breed solutions (the new Refinitiv Wealth Advisor powered by the Eikon platform, and Thomson ONE in the US) deliver the tools and solutions to give advisors the power to be more informed, more efficient, and more engaged with their investor clients. Refinitiv Digital Solutions, industry-leading data, and APIs help transform how advisors and investors digitally engage with their investments and practice in a modern, digital experience, critically removing the enterprise data challenge customers face today.

Refinitiv Transactions and Operations Services, BETA, is a complete suite of brokerage capabilities that seamlessly integrates with a client’s current operations to meet their personalized business needs. BETA enables clients to manage the daily tasks of their brokerage business, plus it provides forward-thinking features to keep clients positioned for the future. To learn more about Refinitiv Wealth Management, visit here or link:https://www.refinitiv.com/en/wealth-management.