InvestCloud names Heather Bellini president and chief financial officer

investmentnews.com:

Wealth management technology company InvestCloud is rebuilding its executive leadership team after a spring shakeup.

Heather Bellini, who has served on InvestCloud’s board of directors as chair of the audit committee since May 2022, has been named president and chief financial officer. Bellini will oversee finance, legal, human resources and business operations at InvestCloud.

The company is still conducting a search for a permanent CEO. Former InvestCloud CEO and co-founder John Wise departed the company in April, followed by four other executives. Richard Lumb, a partner with Motive Partners — a private equity firm that that, along with Clearlake Capital, has had a combined 88% stake in InvestCloud since 2021 — and member of InvestCloud’s board of directors, has served as interim CEO since.

“Few people know the software sector as well as Heather and I am delighted she will help lead InvestCloud into its next chapter,” Lumb said in a statement. “I have witnessed Heather’s talent as a leader first-hand during her time on the InvestCloud Board of Directors and I am very much looking forward to working alongside her in her new role.”

In May, Lumb told InvestmentNewsthat changes to InvestCloud’s leadership were driven by a need to bring in new skills to grow the company from a startup into a large, mature business. Bellini echoed this point, adding that she hopes to bring more operational rigor to InvestCloud.

“The types of people that are needed to go from point A to point C are different than those needed to go from point D to G,” Bellini told InvestmentNews.

Bellini most recently served as CFO of cybersecurity software company Deep Insight. Previously, she worked as a partner and managing director at Goldman Sachs, where