Envestnet has appointed Bhaskar Peddhapati as its new chief technology officer, marking the latest in a series of executive hires as the wealthtech firm pursues a strategy focused on artificial intelligence, platform unification, and advisor-centric innovation.
Peddhapati, who reports to chief executive officer Chris Todd, will oversee technology, engineering, and information security at Envestnet. His mandate includes accelerating the company’s technical roadmap and integrating AI throughout its platform, with the aim of supporting long-term growth and leadership in the wealthtech space.
He follows other new C-suite hires at the firm this past summer, which included John Hofmann as chief financial officer and Sue Quackenbush as chief people officer. The appointments reflect a broader effort to strengthen leadership as Envestnet seeks to deepen its relationships with RIAs, broker-dealers, and institutional partners.
“Bhaskar is an architect of systems, cultures, and transformation,” Todd said in the company’s announcement. He added that Peddhapati’s experience with global technology platforms and data-driven innovation positions him as “the ideal CTO as we enter our next era of growth.”
Peddhapati brings more than 25 years of experience in fintech, cloud strategy, and AI, having led large engineering and product teams at firms including Cotality and NielsenIQ. At Cotality, he was responsible for modernization and transformation initiatives in mortgage technology, focusing on client relationships and the use of AI to improve decision-making across the housing ecosystem. Earlier in his career, he held senior roles at Wells Fargo, where he contributed to strategies aimed at broadening access to wealthtech for clients.
“Envestnet is at an incredible inflection point – where technology, data, and AI are converging to redefine how advisors and institutions serve their clients,” Peddhapati said. He described his new role as an opportunity to “help accelerate that transformation – putting technology at the center of our business to create more value for our employees and our customers.”
Prior to Peddhapati, the CTO position was held by Mark Davis, who according to his LinkedIn profile had the position since April last year, months before the news broke of Envestnet being taken private in a $4.5-billion deal. Davis' tenure at Envestnet began in 2019, when he held a managing director role.
Peddhapati's appointment comes as Envestnet moves forward with a five-year strategic roadmap it announced at the Future Proof festival in September. The plan includes a $1 billion investment in research and development, with priorities such as platform unification, enhanced managed account infrastructure, and expanded tools for advisors.
The company is also focusing on decision intelligence, leveraging AI and predictive analytics to support advisors’ productivity and client engagement.
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