Apex Clearing, a PEAK6 company and the custody and clearing engine powering the future of wealth management, today announced the addition of two financial services and wealthtech trailblazers to its leadership team. The expansion of Apex’s portfolio of leaders follows two consecutive quarters of record digital account-opening activity across the firm’s partner platforms.
Tricia Rothschild, who most recently served as Chief Product Officer and Co-Head of Global Markets at Morningstar, has been named President of Apex Clearing. As CPO at Morningstar, Tricia managed a multi-million-dollar global portfolio of businesses including the firm’s software, data, research and index offerings focused on asset managers, financial advisors, and individual investors. During her 26-year career at the firm, she led its equity research business from start-up to global scale, bringing a meaningful new revenue stream to the firm. Supported by a team of technologists, designers, researchers, product managers and marketers, she also drove strategic, financial, and operational discipline in core multi-million-dollar business lines by reallocating costs and doubling the annual growth rate in three years.
“I’m elated to be joining Bill and his leadership team as President. The opportunity to build for scale while ensuring that Apex’s employees and its customers are always front-and-center is extremely energizing,” said Tricia Rothschild, President of Apex Clearing. “The firm has a robust pipeline of leading-edge technology initiatives already in flight as it continues to shape the industry by reducing friction and enhancing the investor experience. I see nothing but accelerating growth ahead for this world-class organization, and I look forward to helping it scale as elegantly as it innovates.”
Tricia holds a bachelor’s degree from Northwestern University, a master’s degree in Russian and East European economics from Indiana University, and the Chartered Financial Analyst® (CFA) designation. Tricia was named one of the top Women in Wealthtech by ThinkAdvisor in 2019. She created Morningstar’s reverse mentoring program in 2019, served as the executive sponsor for the firm’s Men as Allies resource group, and was a founding member of the national Women in Wealth Management initiative. She currently serves as an advisor and board member for a small portfolio of privately-held fintech firms and the CFA Institute.
Apex also announced that Tom Valverde, an RIA sales and custody veteran who previously held executive leadership roles at Fidelity Institutional and BNY Mellon’s Pershing, has been appointed to the newly created role of General Manager, Advisory.
“Apex has something really special with the technology they’ve developed, the private ownership of the firm, the fact they are truly B2B without any retail conflict or distractions and, most importantly the people they have in place to execute their vision,” said Tom Valverde, General Manager, Advisory of Apex Clearing. “The market wants a new and differentiated option, and Apex is all in. This is the perfect time for us to focus on a multi-channel approach, with custody and clearing at our core, as we continue to see the shift toward consolidation within the advisory business and the firms that serve them.”
Tom’s career spans 27 years in financial services. After starting out as a financial advisor/retail branch manager, he spent 20 years working with advisory businesses at some of the industry’s top custodians. Specifically, while at Fidelity Institutional and BNY Mellon’s Pershing, he worked with registered investment advisors, broker dealers, family offices and turnkey asset manager platforms, enabling them to grow and scale. Tom holds a bachelor’s degree from Arizona State University.
“Over the past decade, Apex has been the partner of choice for emerging fintech firms — and now more traditional players in the asset and wealth management sphere are revisiting how their custody and clearing needs are best met given the ongoing industry consolidation trend that shows no signs of slowing down,” said Bill Capuzzi, CEO of Apex Clearing. “Tricia has significant experience in growing organizations to global scale and industry-relevant strategic vision and insight, while Tom’s wealth of experience in the RIA custody space will enable us to widen our reach on this front. These seasoned industry leaders will support the firm’s growth as we respond to the needs of the modern investor, while also complementing the strength of the existing tech, product, strategy, marketing, and sales leadership teams.”