AlphaTrAI, a provider of tech-enabled services for the wealth and asset management industries, has added executives to its roster and acquired a partner, the firm announced.
Robert Marsh was appointed head of asset management technology services and Matthew Higgins was appointed head of compliance consulting technology.
The firm also announced it has acquired Anchor Advisory Services, a scheduling and sales management solutions provider for the financial services industry.
The new executives and the acquisition are part of AlphaTrAI’s strategic expansion designed to help fulfill the demand for technology and AI-enabled solutions for wealth and asset management companies, the firm said.
Marsh has more than 30 years of experience in markets and investing. He spent 26 years at Tudor Investments, where he held various roles ranging from portfolio manager to strategist and developer.
Higgins was most recently chief compliance officer at Putnam Retail Management, where he helped develop Putnam’s policies and procedures and tech-enabled compliance tools to improve operating efficiencies. In addition, he was responsible for overseeing global distribution compliance efforts for the firm.
AlphaTrAI also announced it has added John L. (Launny) Steffens, Catherine A. Saunders and Larry Anders to its Executive Advisory Council. The three also became shareholders in the firm.
“Maximizing our capabilities to support the dynamic needs of this industry requires having the right team to deliver consistent and exceptional client service,” Bill Dwyer, AlphaTrAI CEO, said in a statement. “We exist to capitalize on opportunities at the intersection of artificial intelligence and wealth and asset management. Our efforts are optimized when leading minds from a cross-section of specialties work toward a common goal. Being able to attract this level of talent is a testament to the value of AlphaTrAI.”
John Sweeney, president of AlphaTrAI, added in a statement, “AlphaTrAI is providing tech-enabled solutions to improve the front, middle and back offices of wealth and asset managers. Rob and Matt complement the recent acquisition of Anchor Financial. Through Anchor, we bring AI tools to the front office, focused on serving clients and their end investors. Rob will help build out our investment capabilities to serve asset and wealth managers, and Matt will leverage AI to scale compliance oversight for our clients.”
The Executive Advisory Council has been enhanced with the addition of Steffens, who is the founder and senior managing director of Spring Mountain Capital where he is co-head of its Private Capital Funds Group. Before founding Spring Mountain Capital in 2001, Steffens was with Merrill Lynch, where he served in several senior management role.
Saunders is a 37-year asset management industry veteran who most recently served as the head of public policy and corporate sustainability at Putnam Investments. Prior to this role, she managed Putnam’s early career program for retail management and served as head of the Registered Investment Advisory Business/Private Bank and Trust.
Anders was the founder of Summit Alliance Financial, a full-service brokerage general agency, and is a partner and CEO at Advisors Equity Group.
“The successful acquisition of Anchor last week, incredible additions to our executive team and investments from Launny, Cathy and Larry, each an industry titan, put AlphaTrAI on an incredible trajectory for growth with a strong foundation to enter our next phase as a leading AI-enabled technology solutions provider for the wealth and asset management industries,” Dwyer said.