Refinitiv Hires Joseph Mrak to Head Wealth Management Unit

Refinitiv, the trading and data business spun out of Thomson Reuters, today announced the appointment of industry veteran Joseph Mrak as global head of wealth management. He succeds David Akellian, the current managing director and global head of wealth management, who decided to leave at the end of 2019, ending a four-year term with Refinitiv.

With significant tenure in the wealth management and banking space and more than 25 years of leadership and operations experience, Joseph will be a valuable asset to help Refinitiv continue its current growth trajectory.

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Refinitiv went private in October 2018 when Thomson Reuters completed the sale of a majority stake in its financial-and-risk arm to private equity firm Blackstone Group, alongside Canada Pension Plan Investment Board and Singapore state fund GIC for $17 billion.

FolioDynamix CEO for 11 years

Refinitiv’s wealth management business supports a number of wealth customers providing global, regional and emerging market wealth platforms across the Americas, Europe, and Asia.

In his new role, Joseph will be tasked with delivering product innovation and support the large-scale operational needs of its wealth management clients. He will also oversee product strategy and development, client services, operations, marketing, and public relations.

Prior to joining Refinitiv, Mark ran the wealth management business at Actua Corp’s FolioDynamix, which was acquired by wealth management intelligence solutions company Envestnet for $195 million back in January 2018. There, he served as Chairman and CEO for over 11 years.

Commenting on his appointment, Joseph Mrak, said: “As a long-time partner to the business in my previous role as CEO of FolioDynamix I know first-hand that at Refinitiv we have some tremendous assets with a proven history of success that we will look to advance and augment to provide enhanced value for our clients and prospects. It is an exciting time in the industry and across the global markets for the evolution of wealth management and I am looking forward to making a tremendous impact.”

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