Jersey City-based DriveWealth, the global fintech with the mission to empower investing for all, on Tuesday announced the appointment of Michael Blaugrund as global CEO. Robert Cortright, the DriveWealth founder and current CEO, will transition to the role of executive chairman, in which he will continue to shape the strategic vision at DriveWealth.
Blaugrund joins DriveWealth from the New York Stock Exchange, where he most recently served as chief operating officer, overseeing strategy and operations of the NYSE Group’s five equity exchanges and two options exchanges.
Joining NYSE in 2016, Blaugrund was responsible for the exchange’s trading and data businesses, including all aspects of product development, commercial policy, market structure positioning and relationship management. Prior to NYSE, Blaugrund was the director of business development at Tower Research Capital, where he was responsible for expanding the firm’s global market access and developing strategic assets. He also previously led U.S. equity product strategy at Nasdaq and held product management roles at Thomson Reuters. He previously served on the boards of SIAC, the options clearing corporation, and tZERO.
Blaugrund’s appointment comes weeks after DriveWealth announced former Morgan Stanley executive Jason Pizzorusso as global chief financial officer. Both individuals bring extensive knowledge in financial services and brokerage technology, and a track record of leading teams through periods of pivotal growth and change as the company prepares to launch new products this year.
Cortright expressed his excitement about Blaugrund joining the team, stating: “Michael is the best possible leader to take DriveWealth to the next stage and build on our foundation. Everyone who has worked with Michael knows he is not only knowledgeable and capable, but a strong and committed leader. I can’t wait for this new chapter and look forward to working with him to support our mission of democratizing investing around the world.”