Announcement adds to appointment of Dave Pottruck, ex-CEO of Schwab and Chairman of Hightower as executive co-chairman in Q2
Magnifi, a company founded by Dr. Vinay Nair at The TIFIN Group and the world’s first natural-language powered investment platform with over 100,000 searches and $100B in assets under influence, today announced Richard Hurwitz, ex-CEO of Tungsten Corporation. as Chief Executive Officer and Jeremy May, ex-President of ALPS Fund Services and ALPS Distributors as Chief Operating Officer. Also joining as Strategic Advisors to the firm are former Vice Chairman of Morgan Stanley, Gary Kaminsky, and Sunita Verma, currently a Distinguished Engineer at Google.
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“We built Magnifi to help users answer complex investment questions, disruptively fast. The growth trajectory in the first half of the year is a powerful validation of the unique value Magnifi brings to the world of investment and wealth management,” said Dr. Vinay Nair, Founder and Chairman of The TIFIN Group; and Founder and co-Chairman of Magnifi. “We are now ready to scale the business with a highly-experienced team and I am delighted to welcome Rick and Jeremy. In addition to support from Dave and me, they will also have support from Gary and Sunita as proven business and technical advisors.”
Rick Hurwitz arrives as Magnifi’s Chief Executive Officer, bringing a depth of operational experience along with a proven track record of building and successfully exiting high growth finance and technology companies over the last 30 years. Most recently, as Chief Executive of Tungsten, Rick led the transformation of the business from a pure-play electronic invoicing business to the world’s most trusted business transaction network.
“I am honored to join the team at Magnifi,” said Rick. “This is a critical time for the investment management industry and I believe Magnifi’s unique capabilities to build better portfolios faster will make a broad and meaningful impact on both individual and professional investors.”
Joining Rick is Jeremy May as Chief Operating Officer with a focus on advancing Magnifi’s traction within the Asset Management industry. During a 24- year tenure as an owner and executive at ALPS, Jeremy helped build and grow the fund administration and distribution business that was eventually acquired by DST Systems.
Gary Kaminsky, a renowned executive, author and television personality represents The TIFIN Group and joins Magnifi in an advisory role. Formerly the Vice Chairman of Morgan Stanley wealth management, he held additional leadership roles at Neuberger Berman and Cowen & Company. Throughout the last 30+ years, Gary has been a force in Financial media most recently as the co-host of “Wall Street week” and as the former capital markets editor at CNBC.
“Platforms such as Magnifi that enable long-term wealth preservation and asset allocation have never been more crucial,” said Gary. “I am excited for the opportunity to support the Magnifi team of finance and technology entrepreneurs in their passion and purpose to improve outcomes for professional and retail investors,” said Gary Kaminsky.
Sunita Verma will join Magnifi as a technical advisor on the platform with her extensive experience in Machine learning, Data mining frameworks and Google’s Search Ads Business.
David Pottruck, Executive Co-Chair of Magnifi who participated in the rigorous hiring process, said “Rick, Jeremy, Gary, and Sunita are each individually remarkable in their accomplishments and I am delighted to be working with them to advance Magnifi’s growth. At Schwab, we pioneered democratizing access to mutual funds. Today, Magnifi is democratizing investment knowledge, giving investors access to information that until now was only available to those with access to large institutional research teams.”
