iCapital taps Fidelity veteran Gary Gallagher as president

iCapital has hired longtime Fidelity executive Gary Gallagher as president, adding another industry veteran to its senior ranks as it looks to deepen relationships with wealth managers and expand distribution of alternative investments.

The New York-based fintech said Gallagher will report to chairman and CEO Lawrence Calcano and take charge of its go-to-market efforts in the US, including overseeing client relationships, investment product distribution, and the firm’s technology and platform strategy.

Calcano framed the hire as a way to sharpen how iCapital delivers its platform to advisors and their clients. He said Gallagher is an “incredibly experienced industry executive” who has a record of “deliver[ing] meaningful results for clients and partners” and supports a culture of client centricity and teamwork.

Gallagher brings more than three decades of experience building and scaling advisory businesses. At Fidelity Institutional, he most recently served as head of strategic business development, where he worked with private equity firms, wealth tech providers, asset managers, and other industry players to push revenue growth. Earlier, he led Fidelity Institutional Wealth Advisor and held senior roles in product, platform and business development at LPL Financial, Citibank, and KPMG.

In the announcement, Gallagher said he sees the move as a bet on where the wealth space is headed, stressing the timing with “this pivotal moment for our industry’s evolution and success.”

He said he aims to help “expand and deepen client relationships, elevate the go-to-market strategy, and accelerate investment product distribution.”

The appointment comes after a year of meaningful growth and executive development at iCapital. The company said its global workforce grew 31% in 2025 to more than 2,200 people, with new offices in Sydney, Abu Dhabi, and Miami. It also named Henrique Francisco as chief technology officer, Jeff McGoey as chief operating officer, and Sonali Basak as chief investment strategist, while promoting Bekka Marrs to chief product officer.

That leadership buildout extends into retirement and workplace channels. Following President Donald Trump’s August executive order supporting alternative investments in 401(k) plans, iCapital named former Franklin Templeton executive Drew Carrington as managing director for alternatives in retirement portfolios, charging him with helping defined contribution plans integrate a broader range of alternative strategies and vehicles into existing plan architectures.