Articles tagged "Bill Crager"
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Envestnet's shares soar on Reuters report about 'receiving interest' for takeover, the latest in a line of reported attempts
The Berwyn, Pa., firm, dogged by activist investors and minority shareholder, BlackRock, is getting more active.
April 16, 2024 at 7:22 PM
Envestnet shares popped -- up 8% today -- after Wall Street filtered out bad news and staked its bet on confidence in a new team
The Berwyn, Pa., firm sugar-coated nothing but ended up with a sweet stock price result as analysts see good outweighing bad.
February 24, 2024 at 3:33 AM
On Bill Crager's last CEO call, Envestnet does bad-news dump -- a big Yodlee-related write-off -- but dangles bright future where Tamarac becomes the mouth of its sales funnel
The outsourcer swallowed a $191-million bitter pill, explained the data disaster that led to it, offered minimal forward guidance on results, or a future CEO, but Tamarac RIAs are catching on as SMA clients and imminent RIA custody is deemed 'extremely strategic'
February 23, 2024 at 3:18 AM
Familiar faces -- Bill, Eric, Oleg and Joel -- dominate Day One at T3 but Syntax Data and SoraFinance get their moment -- and Oleg brandishes app marvel
The big companies like Orion, Envestnet and Invent cement the 20th anniversary of the Joel Bruckenstein event with bundle-ism, but green sprouts of new firms are everywhere; the kids get AI
January 24, 2024 at 6:27 AM
Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain
The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.
January 9, 2024 at 4:09 AM
Envestnet finally may dump Yodlee, says a Bloomberg report, but either way it remains a 'wasting' asset as regulators crack down, an analyst says
Former CEO Jud Bergman made daring move in 2015 with expensive Yodlee purchase to lift the outsourcer into the big leagues but has proven mostly to be an albatross, at least to earnings
December 15, 2023 at 2:18 AM
'Something-is-broken' question draws no resounding response at Envestnet Q3 earnings call; shares still bleed, but execs see a 2024 cash flow rebound and flash an ace in the hole -- RIAs
A UBS analyst asked Envestnet's new chief finacial officer -- fresh out of BlackRock - -- if he could share in his behind-the-curtain first look and got a circumstantial answer
November 14, 2023 at 3:26 AM
Bill Crager makes critical hire of 'step back from the numbers,' Joshua Warren, replacing 'brother' Pete D'Arrigo at CFO; Warren had a big role at BlackRock -- Envestnet's biggest stakeholder
The Envestnet CEO gets 'very, very impressive' 43 year-old BlackRock exec; the New York asset manager happens to be Envestnet's largest stakeholder.
September 27, 2023 at 2:48 AM
Bill Crager signals comity with Lauren Taylor Wolfe and Envestnet also has a Sipp secret weapon, analyst says
The Envestnet CEO says he has 'constructive alignment and full support' of Wolfe and his board and has pivoted to a focus on 25% profit margins -- and no extra cash flow burn for reinvestment
August 11, 2023 at 12:36 AM
Envestnet lets the 'Wolfe' in the door after she huffed and puffed in the media -- now she promises to deliver 'ownership mentality' on the outsourcer's board
Lauren Taylor Wolfe simply would not take 'no' for answer, an activist shareholder tactic that is bearing her fruit; Envestnet's shares stayed flat while she made clear she has more cards to play.
March 29, 2023 at 1:33 AM
Bill Crager rebuts what activist hedge fund investor alleged by promising Envestnet is 'turning corner' on profit margins
The embattled CEO says he 'talked to lots of investors' last quarter during the verbal assault and also laid out his case to Wall Street analysts -- Envestnet's profit margins and market share are expanding.
February 24, 2023 at 1:30 AM
Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo
The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says
January 7, 2023 at 1:50 AM
Lauren Taylor Wolfe goes for Envestnet's throat by demanding four of seven board seats -- including her own -- in what one analyst views as a budding 'hostile [board] takeover'
The 7.5% stakeholder in New York City claims the Berywn. Pa., firm has been run with an 'abandonment of fiduciary responsibility.'
January 5, 2023 at 5:16 AM
After Envestnet rebuffed an ESG hedge fund's demand for a board seat, the fund managers sent a shrill, scalding letter in retaliation to force the issue
The Berwyn, Pa., firm invited invective by allegedly stiff-arming the startup ESG fund's request, even though it holds a 7.2% stake in the company.
November 16, 2022 at 2:49 AM
Bill Crager reads the room and commandeers State Street's old RIA custody unit for Envestnet with FNZ deal
With sandbox rules out the window, Envestnet CEO will private label re-branded State Street Wealth Manager Services -- 'one of biggest long-term opportunities to date,' analyst writes