Focus continues executive shakeup with new CTO

Focus Financial Partners has hired another industry veteran to its C-suite marking the latest in a series of executive appointments aimed at reshaping the company’s leadership and advancing its long-term strategy.

Focus Financial, which characterizes itself as an interdependent partnership of wealth management, business management, and related financial services firms named Mark Israel as its new chief technology officer, effective May 27.

Israel joins the firm with more than three decades of experience in financial services and technology. He most recently held the title of executive vice president for technology and transformation at Fisher Investments.

Fisher Investments captured headlines last year with the news of its eponymous founder, Ken Fisher, selling a hefty minority stake in his $275 billion RIA to  Advent International and a subsidiary of the Abu Dhabi Investment Authority.

Israel's professional history also includes senior roles at PwC, Sapient Global Markets, and Charles River Development, according to the statement announcing his hiring Wednesday.

As CTO, Israel will report to chief operating officer Justin Ferri and lead Focus’s technology strategy across several domains, including infrastructure, digital platforms, client interfaces, data and AI, and cybersecurity. The appointment underscores the firm’s push to better integrate technology with advisory services across its more than 60 RIA partners.

“Mark’s expertise and broad experience shaping and executing large-scale transformational technology strategies will be critical in accelerating our efforts to become the leading fiduciary advice company in the world,” said Michael Nathanson, chief executive officer of Focus Financial.

The new role comes as Focus accelerates efforts to modernize its systems and deepen connectivity across its platform. Israel will lead a team of senior technology executives tasked with driving innovation and supporting the evolving needs of clients and advisors alike.

“Mark is a seasoned executive with a proven track record of successfully implementing transformational technology programs for leading firms within the financial services space,” said Ferri.

Israel succeeds David Fike, who retired on April 30 following a career as a technology leader at the company. During his tenure, Fike helped build Focus’s central IT function, attracting talent and integrating operations between headquarters and its partner firms.

Israel's appointment adds to a recent wave of leadership changes at Focus.

Earlier this month, Focus – which began the year with an identity refresh as it adopted a new corporate brand umbrella, Focus Partners, to encompass the various wealth hubs within its network – introduced a new chief growth officer role.

Zinovy Iosovich, Focus recently appointed growth chief, will be initially focused on scaling initiatives within Focus Partners Wealth, a division that includes the Colony Group, Buckingham Wealth, and the various other partner firms that have merged with them.

Prior to Iosovich's appointment, Focus announced the promotion of Adam Birenbaum to president of the Focus network, with Ferri being elevated to his current role as COO.

In February, Focus announced it had hired Jason Dubinsky as its new chief financial officer following the retirement of its longtime CFO, James Shanahan, who had spent nearly two decades in the role. Shanahan will continue to serve as a consultant to the firm throughout this year