Envestnet's Anur reprises COO role at rival fintech Orion

Orion, the wealth tech leader with a focus on supporting fiduciary advisor-client relationships, is redoubling its commitment to that cause with the latest addition to its executive leadership.

The firm revealed it has appointed industry veteran Arun Anur as its first-ever chief operating officer, effective December 9. In this newly created role, Anur will oversee client service, operations, data reconciliation, and onboarding for the firm.

Natalie Wolfsen, CEO of Orion, said his appointment was a "pivotal role" to help the firm "execute our mission to build a wealth-tech community where every advisor and investor thrives."

"Arun’s deep industry experience and proven track record will ensure we’re delivering a consistently exceptional client experience, seamless service, and operational excellence through our reliable systems and support," Wolfsen said in a statement Tuesday.

He brings more than three decades of experience in financial services and technology to the role. He most recently served as chief operating officer at Yodlee, the data aggregation business Envestnet snapped up in 2015 and reportedly considered selling eight years later. Before that, he held leadership positions in technology consulting at Oracle for over ten years.

Arun's move to Orion comes during a period of profound change for Envestnet. Last summer, it was confirmed the wealth tech behemoth would be taken private in a $4.5 billion transaction by a consortium of strategic investors led by Bain Capital. The deal, which also included Reverence Capital, BlackRock, Fidelity Investments, and Franklin Templeton, received virtually unanimous approval at a special shareholder meeting in September.

With more than $6 trillion in assets, Envestnet's platform comfortably outmatches Orion, which reported $4.7 trillion in AUM and $72.5 billion of wealth management platform assets as of September 30. Still, Anur was quick to highlight the latter's "dedication to delivering exceptional client service and pioneering technology."

"I’m excited to work with the talented team at Orion to further elevate the service we provide, ultimately creating raving fans of the advisors and enterprises we serve," he said.