Automated critical trading, clearing, servicing, and operational workflows to increase efficiency and control.
Simplify advisor workflows and account servicing to improve productivity and client experiences.
Simplify investor communications, proxy voting, and governance while strengthening shareholder engagement.
Streamline fund operations, data management, and oversight to improve efficiency, transparency, and control.
Stephen C. Daffron, will Remain Engaged with BetaNXT as Executive Chairman, Effective July 1, 2024
NEW YORK — (PR Newswire) — BetaNXT, a provider of wealth management infrastructure solutions with real-time data capabilities and an enhanced advisor experience, announced today that, as part of the company's planned leadership transition, Robert Santella will become Chief Executive Officer effective July 1, 2024. He will take over from Stephen C. Daffron, who will remain involved with the firm as Executive Chairman. BetaNXT is backed by Clearlake Capital Group, L.P. ("Clearlake") and Motive Partners.
"With a leader like Bob Santella prepared to take the helm, I believe we are well-positioned as a business to execute on the long-term plan and vision we have established," said Mr. Daffron, Executive Chairman of BetaNXT, and Co-founder and Industry Partner at Motive Partners. "I have enjoyed working with the team at BetaNXT and believe strongly in their mission, so much so that I stayed for more than two years in what was meant to be a transitionary CEO position. I will continue to be a passionate investor in, and advocate for, BetaNXT. Stepping aside now will give me the flexibility to continue leading Motive Partners' vision to invest, operate, and innovate to drive transformation in wealth management technology."
Mr. Santella, who possesses more than 30 years of experience in the Trading Technologies and WealthTech spaces, has been CEO of IPC Systems, a provider of secure, compliant communications and multi-cloud connectivity solutions for the financial markets since April 2018.
Prior to IPC, Mr. Santella served in several positions at SunGard Financial Systems, beginning as Chief Operating Officer of the Broker-Dealer Group and later becoming President of Global Trading. He continued to serve as President of Global Trading at FIS after the latter acquired SunGard in 2015. Earlier in his career, Mr. Santella was COO and President of Fox River Execution and SAM Investments. Mr. Santella earned a B.S. in Economics, Accounting, and Finance from The Wharton School at the University of Pennsylvania.
"Steve has successfully led the carve-out of BetaNXT and communicated a clear strategy for powering the next generation of frictionless, end-to-end wealth management," said Mr. Santella. "As the company has gone from strength to strength and grown its reputation in the marketplace, I am proud that he has chosen to pass the torch to me, and I look forward to working alongside the teams at BetaNXT, as well as Clearlake and Motive Partners, to accelerate the future of connected wealth."
"Bob's track record of success providing technology solutions to the financial markets as well as his experience in data science make him the natural choice to lead BetaNXT as its new CEO," said James Pade, Partner and Managing Director at Clearlake. "We know the entire organization welcomes Bob to his new role and looks forward to supporting him in executing our strategic growth plan to build a differentiated platform in the wealth management industry."
BetaNXT powers the future of connected wealth management infrastructure solutions, leveraging real-time data capabilities to enhance the wealth advisor experience. Combining industry experience with the power of our proven Beta, Maxit, and Mediant businesses, we are focused on solving our customers' integration challenges with flexible, efficient, connected solutions that anticipate their changing needs. Our approach reduces enterprise cost, streamlines operations processes, increases advisor productivity, and enhances the investor experience. Together with BetaNXT, wealth management firms are transforming their platforms into assets that enable enterprise scale and stimulate commercial growth. For more information visit www.betanxt.com.
Laura Marvin Simkins
JConnelly for BetaNXT
+1 (973) 349-2959
betanxt@jconnelly.com
Laura Barger
Head of Marketing and Communications, BetaNXT
+1 (888) 949-9957, option 3
mediarelations@betanxt.com
By Mail
BetaNXT Attn: Media Relations
55 Broadway, 8th Floor
New York, NY 10006
Founded in 2006, Clearlake is an investment firm operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials, and consumer. Clearlake currently has over $80 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, and Singapore. Learn more at www.clearlake.com.
Motive Partners is a specialist private equity platform, combining Investors, Operators and Innovators, to build, back, and buy the technology companies that enable the financial economy. Motive invests across stage in technology enabled financial and business services in North America and Europe. Motive has offices in New York City, London, and Berlin with over 200 professionals, managing two investment programs, Motive Ventures (early stage) and Motive Capital (growth and buyout).
More information on Motive Partners can be found at www.motivepartners.com.
