DriveWealth Taps Venu Palaparthi For Chief Operating Officer Position

DriveWealth, a top financial technology company offering Brokerage-as-a-Service, said today that it has hired Venu Palaparthi as its Chief Operating Officer.

The company noted that Palaparthi will handle its risk and compliance functions and offer strategic insights to help with global expansion. The company added that he will begin on September 16th and report directly to Chief Executive Officer Michael Blaugrund.

Palaparthi Is Set To Play A Vital Role In DriveWealth’s Growth Initiative

Blaugrund explained that the company has carefully grown its leadership team in recent months as it prepares for the next stage of growth and continues expanding operations worldwide. He added that Venu will play an important role in this process.

According to the update, Venu will work with senior leaders to ensure the platform meets regulatory standards as it grows and offers more investment opportunities. Blaugrund revealed that DriveWealth is thrilled to have hired someone with deep knowledge of financial markets.

With nearly 30 years of financial market experience, Palaparthi has worked across multiple asset types, products, and global areas. According to the update, he worked as the Managing Director of Patomak Global Partners. There, he helped clients with business and regulatory planning, risk control, and compliance solutions for securities, fintech, cryptocurrency, and commodities.

DriveWealth reported that Palaparthi previously held numerous top positions at renowned financial institutions. These include Virtu Financial, Nasdaq, Dash Financial Technologies, Tagomi Holdings, and more.

In addition to his experience, Palaparthi has contributed to the financial industry through various leadership roles. DriveWealth said he was a member of the SEC’s Market Quality Subcommittee, the International Advisory Board of the Shanghai Gold Exchange, and the FINRA Small Firm Advisory Committee.

DriveWealth Reorganizes Its Leadership Team

Palaparthi said he is excited to be part of DriveWealth as it enters its next growth stage. He mentioned that the company’s exceptional technology and global reach are unparalleled. Palaparthi looks forward to contributing to DriveWealth’s goal of becoming the preferred partner for forward-thinking asset managers, brokers, banks, consumer brands, and digital wallets.

Venu’s new role as Chief Operating Officer follows recent updates in DriveWealth’s leadership team. The company is focused on expanding its global presence and strategy. DriveWealth has promoted Jason Pizzorusso to President, Emily Ellis to Chief People Officer, and Marcus Anthony to Chief Financial Officer.

The company also hired former Morgan Stanley leaders.  These include Kyla Murphy and Lauren Veisz. Kyla Murphy is now DriveWealth’s Chief Product Officer and Lauren Veisz holds the Head of Operations spot.

Since its establishment in 2012, DriveWealth has provided a technology platform that enables traditional and new digital firms to offer securities trading to their clients. The platform ensures that trading is done smoothly, efficiently, and in line with regulations.