Aaron Klein has stepped down as CEO of Nitrogen, the wealth management technology company he co-founded 12 years ago. Nitrogen, formerly known as Riskalyze, has hired tech executive Dan Zitting as Klein’s replacement.
Zitting previously served as the CEO of risk and compliance software company Galvanize, which was acquired by Diligent in 2021. He continued to work with the company as the chief product and strategy officer until January, after which he became president of software company MikMak.
Klein, despite leaving his position as CEO, will maintain a relationship with Nitrogen as a board member and strategic advisor. He has also launched his own consulting business and remains the largest individual shareholder of Nitrogen. Venture-capital firm Hg acquired a majority interest in Nitrogen in 2021.
In a statement, Klein expressed his desire to redirect his energy towards his family while still contributing to Nitrogen’s vision and strategy from a different role. Zitting, on the other hand, stated his excitement to help accelerate Nitrogen’s expansion.
Laurie Schultz, who became board chair of Nitrogen in 2021 and previously served as CEO of Galvanize, will be familiar to Zitting. She expressed gratitude to Klein for his contributions to Nitrogen and expressed confidence in Zitting’s ability to build upon the foundation established during the firm’s first decade.
Nitrogen offers a comprehensive “growth platform” to financial advice firms. This platform enables advisors to analyze client portfolios, assess client risk tolerance, generate new-client leads, and more.
It is currently unknown whether Zitting will continue in his role as president of MikMak. A spokesperson for Nitrogen was unavailable for immediate comment.
Written by Andrew Welsch