CFO of Goldman Sachs Personal Financial Management Unit Joins Edelman Financial Engines

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Suzanne van Staveren, chief financial officer of Goldman Sachs’ personal financial management unit, left the bank to become an executive at Edelman Financial Engines, one of the largest RIAs. She is now chief financial officer at Edelman, a Boston-based wealth manager with more than 1.3 million clients and $290 billion in assets that is eager to get even bigger.

It wasn’t an easy decision, van Staveren told RIA Intel, but she couldn’t pass up the opportunity to help Edelman grow. Two months after Edelman Chairman and CEO Larry Raffone called to gauge her interest in the position, she agreed to join.

“It really is the ideal solution. I was really drawn to the culture, the purpose, the people, and I think my background really fits with what we’re looking to achieve here,” van Staveren said. Intel RIA.

She replaced Mario Ramos, Edelman’s former chief financial officer, who left the company in October to pursue an opportunity outside the industry, according to Edelman. Ramos is currently CFO of Evolv Technology, a publicly traded company that manufactures security products for weapons detection.

Van Staveren was previously a group executive at Goldman which was formerly United Capital and led teams of sales and benefits strategy and execution specialists for Ayco, the workplace benefits consultant. She was also COO of the Americas institutional business at Goldman Sachs Asset Management and worked at Fidelity Investments and AXA.

At Edelman, van Staveren will oversee more than 90 professionals in finance, strategy and the small pensions division, which she will lead. His role as Chief Financial Officer will also include helping to develop a merger and acquisition strategy for Edelman.

“I have quite a bit of experience both in building businesses organically, but also in mergers and acquisitions,” van Staveren said. Edelman wants to acquire RIAs that share the same investment and wealth planning philosophies, and isn’t looking to acquire businesses just for the sake of growth, Staveren said.

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Raffone said in a statement that Edelman was “delighted” to have van Staveren.

“Suzanne brings extensive finance, operations and strategy experience within our industry, including first-hand knowledge of the wealth planning landscape and our unique combination of retail and workplace businesses. She also has a strong track record of success in managing mergers, acquisitions and organizational integration, which will be crucial as we continue to pursue both organic and inorganic growth,” Raffone said.

Van Staveren will remain based in New Jersey, but said she plans to be visible at Edelman’s Boston headquarters and other key locations nationwide.

Edelman was valued at more than $7 billion in a round of funding from investors including private equity firm Warburg Pincus. Over the past year, Edelman has grown from managing $230 billion in March 2021 to over $290 billion.

Holly Deaton (@HollyLDeaton) is a writer at RIA Intel and based in New York.

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