AssetMark CEO Charles Goldman leaves

  • Push-out Score determined
  • After about seven years in the position
  • Praise, thanks and good wishes for Goldman
  • Natalie Wolfsen taking over

(exechange) — Concord, California, February 23, 2021 — Charles Goldman, chief executive of AssetMark, leaves — by “mutual agreement.” As announced by AssetMark Financial Holdings Inc. in a news release and in a regulatory filing published on Tuesday, February 23, 2021, Charles Goldman leaves his post as chief executive officer at the asset management platform after about seven years in the role, effective March 3, 2021.

Charles Goldman’s duties as CEO will be taken over by Natalie Wolfsen, currently Executive Vice President and Chief Solutions Officer of AssetMark Financial Holdings Inc.

Charles Goldman’s move forms part of a management shake-up also involving the position of President.

No reason given

In the announcement, AssetMark did not explicitly explain the reason for Charles Goldman’s move, leaving room for speculation.

Precise information regarding Charles Goldman’s future plans was not immediately available.


AssetMark said: “Charles Goldman … will be leaving his role as President and Chief Executive Officer and as a member of the Board of Directors.”

AssetMark further said: “On February 23, 2021, the Board of Directors (the “Board”) of AssetMark Financial Holdings, Inc. (“AssetMark”) announced that the Board of Directors and Charles Goldman came to a mutual agreement that Mr. Goldman would no longer serve in his positions with AssetMark, including as Chief Executive Officer, President and as a director, including as a member of the Board’s Nominating and Corporate Governance Committee.  Mr. Goldman will cease being a director, officer and employee of AssetMark effective March 3, 2021.”

Share price decline since February 2020

The announcement follows a decline in AssetMark Financial Holdings Inc.’s share price of 16% since February 2020.

Chaired by Xiaoning Jiao

Xiaoning Jiao serves as AssetMark Financial Holdings Inc.’s Chairman.

Jiao has served as a member of the Company’s Board of Directors since 2020 and as Chairperson of the Company’s Board of Directors since April 2020.

In the position of CEO since 2014

Charles Goldman became CEO of the Company in 2014.

Goldman will assist in the transition by serving as a consultant to the Company for one year.

Wolfsen will also join the AssetMark Board of Directors.

Goldman has served as the Company’s President and Chief Executive Officer since 2014 and as a member of the Company’s Board of Directors since 2013.

Prior to joining the Company, he served as Senior Advisor at Bain & Company from 2010 to 2014 and President of Fidelity Investments, Custody & Clearing from 2009 to 2010.

From 2001 to 2008, Goldman served in various senior roles at The Charles Schwab Corporation, including head of Schwab Institutional, Chief Operating Officer of Schwab Institutional and head of Strategy, M&A and Venture Capital. From 1996 to 2000, he served as President of Paramount Farms, Inc. From 1991 to 1996, Goldman was a consultant with The Boston Consulting Group, prior to which he spent two years with Bankers Trust Company.

Goldman holds a B.S. degree in finance, magna cum laude, from the University of Southern California and an M.B.A. degree, with honors, from the University of California, Los Angeles.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding Charles Goldman’s move on a scale of 0 to 10.

exechange reached out to AssetMark and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 9.2021 ($).