Indian American Naureen Hassan has been appointed CEO of DriveWealth, a leading financial technology provider based in New York. The former UBS and Morgan Stanley executive will succeed Michael Blaugrund, who is stepping down to take on a newly created position at Intercontinental Exchange.
“Michael has overseen a period of significant growth, expansion into new markets and profitability over the last two years as CEO and we thank him for everything that he has accomplished,” said Robert Cortright, founder and executive chairman at DriveWealth, in a statement. “Naureen has a proven track record as an industry innovator and disruptor and is the perfect person to lead DriveWealth through our continued evolution and next phase of growth. She joins us during a period of accelerating growth, and we look forward to all that is to come under her visionary leadership.”
READ: Indian American Naureen Hassan named President of UBS Americas, CEO of UBS Americas Holding (July 12, 2022)
Hassan has previously served as the president of UBS Americas, where she led a $14 billion revenue division with more than 25,000 employees. She also spearheaded UBS’s integration of Credit Suisse in the Americas, which was the first-ever acquisition between two globally systemically important financial institutions. She was also the first vice president and chief operating officer of the Federal Reserve Bank of New York. In that role, she served as the second-highest-ranking official at the New York Fed and as an alternate voting member of the Federal Open Market Committee (FOMC). At the Federal Reserve Bank, she drove innovations across payment operations, technology, human resources, risk management, and finance.
“DriveWealth is truly changing how and where people invest and providing unique value and capabilities to partners across the globe,” Hassan said. “I am honored to step into this role, to continue building on the great work Robert and Michael have done, and to help guide the company’s continued growth and success. DriveWealth has grown by opening doors to new opportunities for investors in new markets and we will continue to work toward realizing the company’s potential as the market’s most trusted embedded investing technology partner.”
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Born in Poughkeepsie, N.Y., Hassan graduated from University High School in Tucson, Ariz., and from Princeton University, where she majored in economics. She also has an MBA from Stanford Graduate School of Business.
Hassan began her career at McKinsey & Company as a business analyst in 1993. Later, she became an associate principal at McKinsey.
She joined Charles Schwab in 2003, where she held multiple leadership roles, including senior vice president, executive vice president, and chief operating officer.
In 2016, Hassan moved to New York to become chief digital officer at Morgan Stanley. In March 2021, she was appointed first vice president and chief operating officer of the Federal Reserve Bank of New York.
DriveWealth is a leading provider of Brokerage-as-a-Service and other critical investment infrastructure. It operates across markets in five different continents, and supports an average of over two million trades per day for its B2B partners around the world, facilitating 24-hour trading, fractional share execution and multi-asset class support for millions of individual global investors.
Recently, DriveWealth was named one of CNBC’s “World’s Top Fintech Companies 2025” list and recognized on the 2025 Inc. 5000 list of United States’ fastest-growing private companies for the second year in a row.