MaxMyInterest Appoints ShopRunner Veteran Ateet Adhikari as COO

Cash management and optimization platform MaxMyInterest (“Max”) has appointed Ateet Adhikari as chief operating officer (COO) and said he would help lead the company to its next phase of growth.

Adhikari joined the company after serving for five years as COO at ShopRunner, where he was a key player in its growth and its ultimate sale to FedEx in 2020. Before joining ShopRunner, he worked in venture capital, Max said Thursday (Nov. 3) in a press release.

Max will benefit from Adhikari’s experience in scaling ShopRunner, as the rising interest rate environment has opened up new opportunities for the company’s cash management solution, Max Founder and CEO Gary Zimmerman said in the release.

“We are excited to work with Ateet to supercharge Max’s growth among individual investors, their financial advisors, banks, and other financial institutions and FinTechs who desire to deliver the best cash solution in the market to their clients,” Zimmerman said.

In his new position, Adhikari will identify opportunities for growth and innovation, support partner relationships, oversee daily operations and mentor Max’s team, according to the press release.

Max’s cash management platform serves individual investors and financial advisors and enables clients to earn higher yields on their cash by helping them reallocate cash among their checking and high-yield savings accounts while keeping it in their own FDIC-insured bank accounts, the release stated.

“The multi-trillion-dollar market for bank deposits is massively inefficient,” Adhikari said in the release. “Max has created the most innovative solution in the market in a way that helps depositors, wealth managers and banks. I look forward to helping scale Max to the next level.”

As PYMNTS reported in August, a race to the top in terms of the highest APY on their high yield savings accounts has begun in earnest, with digital banking providers in particular boosting the rates they pay on these accounts.