Sarah Kirshbaum Levy to succeed Jon Stein as Betterment’s CEO

By Pavithra R

Betterment, an American financial advisory company providing robo-advising and cash management services, has announced the appointment of Sarah Kirshbaum Levy as its new Chief Executive Officer (CEO).

Jon Stein, the founder of Betterment, will remain Chairman and serve on the Board of Directors. He will work with Levy for the smooth executive transition. 

Stein launched Betterment in 2010 in the wake of a financial crisis, to be a place built to help people do what’s right with their money so they can live better. It is a smart money manager that offers everyday services for spending and saving, alongside their core investing & retirement solutions. Stein has been credited with creating the “roboadvisor” space, and Betterment has continuously been recognized as a leading force in the FinTech industry. He also oversaw the company’s entrance into the B2B space with the launch of both its 401(k) arm, advisor services platform, Betterment for Advisors and Betterment for Business.

“I’m extremely proud of the work we’ve done at Betterment over the past ten years. It’s been an honor and a humbling experience to lead a company that has made such a significant impact on both the financial industry and consumers’ everyday lives. But when I look at what is next for Betterment, the time has come for someone else to lead the company through its next stage of growth,” said Stein.

Most recently, Levy served as Viacom Media Networks’ Chief Operating Officer (COO) and has been an Operating Advisor at Betterment for the last several months. During her time as COO of Viacom Media Networks, Levy oversaw global strategy, finance and operations for the $10B division that housed some of Viacom’s iconic brands, including MTV, Comedy Central, and BET. Levy previously served as the COO at Nickelodeon where she drove the expansion of the business and brand both organically and through acquisitions. She spearheaded Nickelodeon’s entry into new segments generating more than $4B at retail, including digital gaming, resorts, consumer products, Broadway and theme parks, as well as subscription video on demand. Levy is currently a Board Member for The Lucius N. Littauer Foundation (2012 to Present), ACON S2 Acquisition Corp (Sept 2020 to Present) and Funko (2019 to Present).

“Sarah is an extraordinary leader with deep experience managing and scaling consumer-facing organizations. As we’ve worked together over the past few months, I’ve learned so much from her, and had the chance to see firsthand what she’ll bring to Betterment. Sarah has cultivated some of the world’s most beloved brands while scaling operations across multiple business lines. I am incredibly confident that the company and the customers we serve will be in good hands under her leadership,” added Stein.

“I was determined to find a company with an authentic story and a brand that I could believe in, a brand making an impact and a difference in the world. Betterment’s mission to help people pursue happiness through financial security hit the mark for me. I am really excited to connect with customers and help share the Betterment story with them, and I am looking forward to leading the company as we continue to improve the financial outcomes of millions of customers,” said Levy.