Modera Wealth Management has appointed Gaurav Mallik as chief investment officer and Shelly Kapoor as chief operating officer, adding two experienced wealth management executives as the registered investment adviser expands its investment capabilities, technology platform and operational infrastructure.
Mallik will lead Modera’s investment strategy and oversee areas including portfolio allocation, investment solutions and the firm’s investment governance framework. Kapoor will lead the firm’s operational functions and support the continued development of the systems, processes and teams required to serve a growing client base.
Modera said the appointments will strengthen its ability to provide advanced investment and financial planning capabilities while maintaining the personalized service and disciplined execution expected by its clients.
Founded in 1983, Modera is a fee-only wealth management firm serving individuals, families, business owners and nonprofit institutions. The addition of a new CIO and COO reflects the firm’s continued investment in senior leadership as it develops its investment offering and operating platform.
Mallik will be based in Modera’s Boston office. He brings experience spanning quantitative and fundamental investment strategies, private investments, institutional portfolio management and the development of trading and investment teams.
Before joining Modera, Mallik served as managing partner of Fiducia Advisors. In that role, he led consulting engagements for wealth management firms and focused on the integration of technology and artificial intelligence into investment processes.
His recent advisory work provides Modera with experience relevant to the broader transformation taking place across wealth management. Advisory firms are increasingly evaluating how AI, data analytics and automation can support investment research, portfolio construction, risk management and client reporting.
As CIO, Mallik will be responsible for helping Modera determine how these technologies can enhance its investment processes while maintaining appropriate governance and oversight.
Mallik previously served as chief investment officer at Pallas Capital. Before joining Pallas, he spent nearly two decades in leadership positions at State Street Global Advisors.
His roles at State Street included chief portfolio strategist and chief investment strategist. Through those positions, he gained experience analyzing financial markets, developing portfolio views and communicating investment strategy to institutional and advisory audiences.
Mallik’s background also includes building institutional trading teams and working across public and private investment strategies. Modera expects this experience to help the firm expand its investment offerings while maintaining a consistent approach to portfolio construction and risk management.
Mallik succeeds George Padula, who plans to retire at the end of 2026. Padula will remain with Modera through the end of the year to support the transition.
The extended handoff is intended to provide continuity across the firm’s investment process, client portfolios and internal governance. Mallik will have the opportunity to work alongside Padula before assuming complete responsibility for Modera’s investment leadership.
Kapoor will be based in Modera’s Westwood, New Jersey, office. She joins the firm from Coldstream, where she most recently managed business integrations.
Her experience with integrations is expected to be valuable as Modera continues developing its organization and bringing together the operational capabilities required to support growth.
Business integrations within wealth management can involve coordinating technology systems, employees, client service models, compliance processes, investment operations and administrative functions. Effective integration can help a firm expand while maintaining a consistent experience for clients and employees.
Before joining Coldstream, Kapoor served as chief operating officer at Arnerich Massena. She remained closely involved with the firm before its acquisition by Coldstream.
As COO of Arnerich Massena, Kapoor gained experience overseeing the day-to-day processes and infrastructure of an investment advisory organization. Her responsibilities involved helping the firm operate efficiently while supporting its strategic and client-service priorities.
Kapoor previously spent 13 years as senior vice president of operations at Ziff Brothers Investments in New York City.
During her time at the private family office, she developed experience managing complex operating processes, scaling teams and supporting high-level organizational performance.
That background gives Kapoor experience across both wealth management firms and sophisticated family-office environments, where operational accuracy, privacy, reporting and coordination can be particularly important.
At Modera, Kapoor will help the firm strengthen its operational foundation as its investment, planning and technology capabilities expand.
A growing advisory firm must ensure that its internal systems develop alongside its client base. This can require investments in data management, cybersecurity, compliance, portfolio administration, client communications and employee workflows.
Kapoor’s appointment is intended to help Modera create scalable processes without sacrificing the high-touch service central to its client relationships.
The CIO and COO appointments address two closely connected parts of Modera’s growth strategy.
Mallik will focus on the investment capabilities and governance needed to serve clients across changing market conditions. Kapoor will focus on the operating and technology infrastructure required to deliver those capabilities efficiently and consistently.
Their responsibilities will likely intersect in areas such as investment technology, portfolio reporting and data management. New investment products or analytical tools must be supported by reliable operational systems before they can be deployed broadly across client accounts.
Mallik’s experience integrating technology and AI into investment processes complements Kapoor’s background in operations, integrations and organizational scalability.
Together, the executives will help Modera evaluate how technology can improve its investment and service capabilities while preserving appropriate human oversight and personalized advice.
The appointments also provide Modera with additional leadership experience as the wealth management industry continues to consolidate and modernize.
Independent advisory firms are investing in technology and senior talent to compete with larger institutions while maintaining the client-focused qualities that differentiate the RIA model.
Modera’s fee-only structure means the firm is compensated directly by clients rather than through commissions generated from the sale of financial products. The firm serves clients with investment management, financial planning and related wealth advisory needs.
By adding senior executives with institutional investment and operational backgrounds, Modera aims to expand its capabilities while continuing to provide a comprehensive and personalized client experience.
KEY QUOTE:
“We brought on these two wealth management veterans at a pivotal moment as we expand both our investment offerings and our operations and technology platform. They will be instrumental in driving our organization forward, helping to ensure that we continue to deliver the comprehensive high-touch experience that our clients value.”
Tom Orecchio, CEO of Modera Wealth Management
