Karabell will help shape and communicate the firm’s investment perspective and deep research capabilities to clients and the media, and advise the investment committee of Envestnet/PMC, in connection with PMC’s portfolio solutions.
In addition to crafting market strategy and providing regular commentary about the global economy and financial markets, Karabell will work with the senior management of Envestnet on overall corporate strategy, branding and market position. One focus of Envestnet is helping advisers translate a myriad of market and investment information into intelligence that directly supports better investment outcomes, the company said in a statement.
Karabell previously was executive vice president, chief economist and head of marketing at Fred Alger Management, a New York investment firm where he led the creation, launch and marketing of several funds as well as corporate strategy for strategic acquisitions. He also was president of broker/dealer Fred Alger and Co., portfolio manager of the China-U.S. Growth Fund and executive vice president of Alger’s Spectra Funds, a no-load family of mutual funds that included the Spectra Green Fund.
Karabell holds a doctoral degree from Harvard University and has taught at several institutions, including Harvard and Dartmouth College. He has written 11 books on economics, investing, history and international relations, and was designated a “Global Leader for Tomorrow” by the World Economic Forum in 2003. Karabell writes the “Edgy Optimist” column for Reuters and The Atlantic, and is a commentator on CNBC and MSNBC.