Modera Wealth Management shuffles C-suite with two new hires

Modera Wealth Management, a Westwood, New Jersey-based fee-only registered investment adviser overseeing $17.5 billion in client assets, is undergoing a shuffle at the top of its leadership team.

On Tuesday, the firm announced it has named Gaurav Mallik as chief investment officer and Shelly Kapoor as chief operating officer.

Both hires are stepping into roles vacated by longtime Modera executives, while bringing decades of institutional and wealth management experience to a firm that serves more than 6,300 clients – including individuals, families, business owners and nonprofit institutions – from 18 offices nationwide.

"We brought on these two wealth management veterans at a pivotal moment as we expand both our investment offerings and our operations and technology platform," said Modera CEO Tom Orecchio. "They will be instrumental in driving our organization forward, helping to ensure that we continue to deliver the comprehensive high-touch experience that our clients value."

Read more: Why investment-only advice is no longer enough for high-net-worth families

Mallik, who is based in Modera's Boston office, will oversee the firm's investment strategy, portfolio allocation and governance framework. He joins Modera after serving as managing partner of Fiducia Advisors, where he consulted with wealth management firms on integrating technology and artificial intelligence into investment processes.

His resume also includes a stint as chief investment officer at Pallas Capital and nearly 20 years at State Street Global Advisors, where he held roles including chief portfolio strategist and chief investment strategist. That background spans both quantitative and fundamental investing, along with experience in private investments and building institutional trading desks – a skill set that could prove useful as more RIAs push further into alternatives for wealthy clients.

Mallik succeeds George Padula, who plans to retire at the end of 2026 and will remain at the firm through year-end to support the transition.

Kapoor, who will work out of Modera's Westwood headquarters, arrives from Coldstream, where she managed business integrations. Before that, she served as chief operating officer at Arnerich Massena until that firm's acquisition by Coldstream in 2024, and spent 13 years as senior vice president of operations at Ziff Brothers Investments in New York, a private family office where she managed complex processes and helped scale teams.

She succeeds Harli Palme, who has moved into a new role as Modera's director of learning and development.

Mallik and Kapoor arrive at Modera roughly a month after it announced the acquisition of Northstar Financial Planners, which brought $311.6 million in assets under management while expanding Modera's presence in Florida.

Read more: Why Modera's M&A head takes a cue from Ted Lasso

Northstar Founder and CEO Allen Giese – who leads a team of fiduciary planners with a focus on long-term planning as well as specialized guidance for pre-retirees, Florida Retirement System special risk employees, and families of children with special needs – said the deal opens up additional resources to serve clients as well as succession paths for his team.

 "We've grown to a point where having a sound, durable succession plan isn't optional. It's responsible," he said. "Joining Modera helps ensure the future of the firm is not dependent on any one individual, and it preserves the relationships and planning philosophy that our clients value."