InvestCloud has appointed its co-founder Michael Smith as EVP Business Development of the global FinTech firms’ New York office.
Smith, who is relocating from the firm’s Los Angeles headquarters, will focus on business development and growing the office’s client base as well as further developing product strategy.
Smith co-founded InvestCloud in 2010 and has helped the FinTech firm’s work expand from small wealth managers to the largest banks in the world over the past nine years.
Parallel to this move, InvestCloud is launching an Innovation Center in the New York office. The InvestCloud Innovation Center provides a place for clients and FinTech startups alike to quickly build and deploy new apps and functionalities through the InvestCloud Digital Platform. The NY Innovation Center will be InvestCloud’s third – with Innovation Centers also located at its Los Angeles and London offices, and will be followed by additional openings this year in San Francisco and Tampa.
Commenting on his new role, Michael Smith said: “Having previously lived in New York, I’m excited to be coming back to the city to focus on driving InvestCloud’s expansion plans. We’ve seen consistent and rapid growth since creating InvestCloud in 2010 and there is an obvious need to extend our New York presence. The demand by InvestCloud’s largest client, based in New York, means this is the perfect place for me to be located to best maximize our efforts.”
John Wise, Co-founder, CEO and Chairman at InvestCloud, said: “Michael has helped build this company from the ground up. I believe he is the perfect candidate to lead our New York office; we need him to focus on growing our already significant list of clients as we aim to capitalize on our digital lead.”
Smith’s appointment as EVP follows a series of senior moves by the firm as it looks to accelerate recent growth. Will Bailey was appointed as Chief Strategy Officer in May, relocating to InvestCloud’s San Francisco offices from London, and former CMO Mark Trousdale was appointed to Chief Growth Officer; moving to the UK to lead the firm’s EMEA operations.