Morgan Stanley-backed Fintech team with Schwab at Advisor AI Solutions: Tech Roundup

Envestnet appoints ESG manager

Envestnet appointed Ron Ransom to serve as executive director of the office of environment, social and governance, a newly created role the firm said was designed to bring a centralized focus to ESG activities across the company.

Ransom will report directly to Dawn Newsome, Chief Business Operations Officer at Envestnet.

As Group CEO for ESG, Ransom will lead the company’s work in developing programs and guidelines to support Envestnet’s ESG work, it says. He will “work closely with divisions across the company, including the Sustainable Investing group within Envestnet | PMC,” according to the firm.

Sustainable investing is an important component of Envestnet’s financial wellness ecosystem, it said, noting that PMC’s Sustainable Investing team helps advisors “integrate this type of investment into their practice, helping their clients find ways to generate greater social or environmental impact through the investments.”

The ESG office “will focus on building strong relationships in the communities where Envestnet operates and seek opportunities where Envestnet can lead the industry,” according to the company.

Ransom has nearly three decades of financial services experience and most recently served as head of business development at Envestnet, where he was responsible for managing Envestnet’s go-to-market strategy, it said.

Prior to joining Envestnet, Ransom held executive positions at Nationwide Financial, UBS and Bank of America.

New Impact Investing platform created

Investment and product development directors Josh Hile and Marshall Dunford announced the formation of Citizen Mint, a new impact investing platform that it said was designed to help investors generate both financial returns and positive social and environmental impact.

The new company is entering the sector as interest in impact investing has reached an all-time high, particularly among Gen X and millennials, according to Citizen Mint.

Citizen Mint will focus exclusively on investment opportunities in private markets and use a proprietary process to identify and conduct due diligence on high-value investment opportunities, it said. The company will also offer a simple user interface that allows investors to select specific projects and areas of interest and monitor investment impact and performance, it said.

Prior to launching Citizen Mint, Hile, who serves as CEO, held investment and leadership roles at Russell Investments and most recently as director of investment strategy and research at Laird Norton Wealth Management, a $16 billion RIA and trust firm specializing in impact investing.

Dunford, who serves as chief technology officer, has previously worked as a software engineer across various industries.

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