Popular micro-investing app Acorns just made a big hire.
The firm announced that Christopher Jones, BlackRock’s former cohead of global active equities, will join the company as Chair of the Investment Committee. Jones will advise on long-term strategy and oversee ETF’s, portfolio construction, and risk management.
“He is not only a best-in-class investor but also a great leader of investors,” said Walter Cruttenden, cofounder of Acorns in a statement. “He has deep experience in capital markets globally — having worked with and driven strong investment results for some of the biggest and most sophisticated pools of investment capital in the world.”
Jones cited Acorns’ ability to reach and engage with millenial investors as a primary reason for his joining the investing app company.
“This is important and vital work, and I’m excited to bring my experience at the world’s largest asset management firm to their platform as they continue to grow and scale,” said Jones.
The startup tries to appeal to younger investors by asking two simple questions: “how much” do you want to invest and “how much risk” do you want to take. Acorns has over 1.7 million investment accounts.
Last year, Acorns raised $US30 million in a funding round led by PayPal, bringing its total funding to $US62 million. It also introduced a “found money” rewards program in partnership with Airbnb, Blue Apron, Hotel Tonight, Jet.com, 1-800-Flowers, and Hulu.