Modera Wealth Management Appoints Gaurav Mallik and Shelly Kapoor to Executive Leadership Team
Modera Wealth Management has strengthened its executive leadership team with the appointments of Gaurav Mallik as chief investment officer and Shelly Kapoor as chief operating officer, positioning the registered investment adviser to expand its investment capabilities and enhance operational infrastructure as it continues to grow. The fee-only wealth management firm said the appointments support its strategy of advancing investment offerings while scaling the technology and operational platform that serves individuals, families, business owners and nonprofit organizations nationwide. "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," CEO Tom Orecchio said. "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." Based in Modera's Boston office, Mallik will oversee the firm's investment strategy, portfolio allocation, investment solutions and governance framework.
He joins the firm from Fiducia Advisors, where he served as managing partner, advising wealth management firms on investment strategy and the integration of technology and artificial intelligence into investment processes. Before founding Fiducia Advisors, Mallik was chief investment officer at Pallas Capital and spent nearly two decades at State Street Global Advisors, holding senior leadership positions including chief portfolio strategist and chief investment strategist. His experience spans quantitative and fundamental investment management, institutional trading and private investments. Mallik succeeds George Padula, who plans to retire at the end of 2026.
Padula will remain with the firm through year-end to support the leadership transition. Kapoor will be based in Modera's Westwood, New Jersey, office and assume responsibility for the firm's operations. Most recently, she managed business integrations at Coldstream following that firm's acquisition of Arnerich Massena, where she had served as chief operating officer. Earlier in her career, Kapoor spent 13 years as senior vice president of operations at Ziff Brothers Investments, overseeing complex operational processes and supporting the investment firm's private family office platform.
She succeeds Harli Palme, who has transitioned to the newly created role of director of learning and development. The dual appointments reflect broader trends across the wealth management industry as firms invest in senior leadership to address growing client demand for more sophisticated investment solutions while modernizing operations through technology and automation. As registered investment advisers continue to scale, firms are increasingly strengthening both investment management and operational capabilities to improve client service, support regulatory requirements and enhance efficiency. Founded in 1983, Modera Wealth Management provides financial planning, investment management, tax planning and wealth advisory services to individuals, families, nonprofit institutions and retirement plan sponsors.
The firm serves more than 6,300 clients nationwide and managed approximately $17.5 billion in assets under management as of Dec. 31, 2025. Majority owned by employee shareholders, Modera has positioned itself as a fee-only fiduciary adviser focused on long-term client relationships. By adding experienced executives to lead its investment and operational functions, the firm is reinforcing its leadership team as it continues to expand its capabilities and compete in an increasingly technology-driven wealth management market.