Betterment CEO Jon Stein Steps Down, Announces New Appointment

https://finovate.com/betterment-ceo-jon-stein-steps-down-announces-new-appointment/
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Jon Stein has long been a prominent figure in the U.S. fintech sector. Betterment, the wealthtech company he launched in 2008, has grown to help 500,000 users manage a total of $25 billion in assets.

Not only did Stein build a successful fintech company, he also helped kick off the entire wealthtech subsector within fintech. Today, the New York-based company’s founder announced he is handing over the company — and the legacy– to Sarah Kirshbaum Levy.

The move comes after Stein spent time during quarantine reflecting. He ultimately came to the realization that, as he said, “the best way to achieve our mission might be to invite a successor to lead Betterment in the next phase of growth.”

Kirshbaum Levy comes to Betterment after serving as Chief Operating Officer at Viacom Media Networks, the parent company of brands such as Nickelodeon, BET, and Comedy Central. She started working under Stein as a consultant, building out the company’s 2021 plans. Today, as Kirshbaum Levy takes the reins as CEO, she will not only guide Betterment toward a future of growth but also prepare the company to go public.

Stein will continue to hold a seat on Betterment’s board and will support Kirshbaum Levy by offering help with recruiting, investor relations, telling the company’s story, and upholding the company culture and values.

“Due to good fortune and intense effort in a most challenging year, the company has never been in a stronger position. Each line of business is reaching new heights in 2020. We’re beating targets, well-capitalized, with wind at our backs. It’s a good time to hand over the reins,” Stein concluded.

https://finovate.com/betterment-ceo-jon-stein-steps-down-announces-new-appointment/