Osaic Hires Chief AI and Technology Officer
Osaic has hired Sayee Bellamkonda as its new chief artificial intelligence and technology officer. He joins from Vialto Partners, a global provider of tax and mobility solutions, where he was executive vice president and chief digital and technology officer, and will report directly to CEO Jamie Price.
He replaces Ed Obuchowski, who served as chief technology officer until his departure from the firm last year, according to public filings. Since then, Matt Schlueter has overseen the technology function in his role as chief product and operations officer.
The broker/dealer is adding the chief AI title to the role, as Osaic continues to integrate AI into its technology platform.
“Bellamkonda’s recruitment marks a strategic investment in Osaic’s integrated technology capabilities as the firm advances its short- and long-term technology and AI roadmap,” the firm said in a statement.
He’ll focus on improving the company’s tech, data and AI infrastructure and scaling the tech platform across the enterprise.
“Sayee has spent his career connecting technology strategy with business outcomes, and he knows how to build the organizations, capabilities and culture needed to turn that strategy into action,” said Price, in a statement. “Bringing a leader of Sayee’s caliber to Osaic reflects the opportunity we have to build something consequential and underscores how important these enhancements are to our future.”
This follows the departure of several top Osaic executives, including Greg Cornick, executive vice president of wealth management solutions, and Kristy Britt, chief financial officer, last month.
Kristen Kimmell, who had served as Osaic’s head of business development since 2021, left in June to rejoin RBC Wealth Management, her former employer. Two other senior Osaic executives stepped down from their roles in May, including Dimple Shah, head of strategy and client experience, and Sudhakar Kanagarajan, head of application engineering and architecture. Shah joined Humanity Labs, while Kanagarajan joined Fidelity Investments.
In December, the firm hired Shannon Reid as president and head of advisor growth and engagement, a newly created position.
Also, in April, Osaic’s private equity owner, Reverence Capital Partners, closed on a recapitalization of the broker/dealer, with Bain Capital entering as a new investor. The deal raised more than $2 billion in fresh capital for Osaic and allowed Reverence to retain majority ownership.
LPL also announced a new tech executive this week, hiring Jonathan Lewis as managing director and chief technology and information officer from competitor Wells Fargo. In the new role, Lewis will lead technology architecture, engineering, infrastructure and development, while reporting to Greg Gates, who has been promoted to group managing director, chief product and technology officer.
