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Robo-advice pioneer Wealthfront founder to return as CEO

Published 10/31/2016, 02:12 PM
Updated 10/31/2016, 02:20 PM
© Reuters. Adam Nash, President and CEO of Wealthfront, speaks during the Reuters Global Wealth Management Summit in New York

NEW YORK (Reuters) - Wealthfront, one of the first and biggest online investment platforms referred to as "robo-advisors," announced on Monday that founder Andy Rachleff would return to the top job of chief executive officer.

Adam Nash, Wealthfront's CEO since 2013, will step down, but will maintain his position on the board of directors, the robo-adviser said in a blog post on its website.

Rachleff founded Wealthfront in 2011 with Dan Carroll, and previously led the company before Nash took the lead.

© Reuters. Adam Nash, President and CEO of Wealthfront, speaks during the Reuters Global Wealth Management Summit in New York

"After an incredible journey as CEO of Wealthfront, I'm passing the baton back to (Rachleff)," Nash wrote on Twitter.

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