People Moves

InvestCloud Builds New York Operations, Plans Further Growth

Tom Burroughes, Group Editor, 1 July 2019

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The firm is building innovation centers in different parts of the world, with more planned across the US.

InvestCloud has made its co-founder Michael Smith executive vice president of business development for its New York office. Smith, who is relocating from the wealthtech firm’s Los Angeles headquarters, will focus on business development and growing the office’s client base.

Smith co-founded InvestCloud in 2010.

Separately, the firm is launching an innovation center in the New York office. The InvestCloud Innovation Center provides a place for clients and fintech start-ups to build and deploy new apps and functionalities through the InvestCloud Digital Platform.

The New York centre will be InvestCloud’s third such facility, adding to its innovation incubators in Los Angeles and London. The firm plans new openings this year in San Francisco and Tampa.

“We’ve seen consistent and rapid growth since creating InvestCloud in 2010 and there is an obvious need to extend our New York presence. The demand by InvestCloud’s largest client, based in New York, means this is the perfect place for me to be located to best maximize our efforts,” Smith said.

Smith’s appointment follows a number of senior moves by the firm. Will Bailey was appointed as chief strategy officer in May, relocating to InvestCloud’s San Francisco offices from London, and former CMO Mark Trousdale was appointed as chief growth officer; moving to the UK to lead the firm’s Europe, Middle East and Africa operations.

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