Online wealth-management platform Personal Capital today announced it has brought on former Yodlee CFO, Mike Armsby (pictured), as its new CFO. Armsby, a Harvard MBA grad, has previously served as CFO of View, a high-tech glass supplier, and PowerLight, a solar development company.
The California-based company has also promoted three current executives:
- Jay Shah is now CEO of Personal Capital Advisors, an RIA which is a wholly owned subsidiary of Personal Capital; Shah retains his role as chief operating officer of the parent firm.
- Mark Goines is now vice chairman.
- Paul Bergholm is now chief administrative officer.
In a funding round that boosted its valuation to $500 million, Personal Capital raised $50 million last month, with another $25 million pending. The company’s CEO Bill Harris said the new executives are “key to powering our next phase of hyper-growth.” Earlier this spring, the company announced it had exceeded $2 billion assets under management, up from $1.6 billion in November of last year.
At FinovateSpring 2014, Personal Capital launched One Click Investment Proposals. The company’s CTO Fritz Robbins gave a presentation titled Data-Driven Retirement Planning at FinDEVr San Francisco 2015.