added Dustin Lewellyn
to its new ETF division, though the precise nature of his role is not yet clear. Lewellyn left his position as ETF head at Northern Trust
in May 2009, three months after the Chicago firm shuttered its ETF business
Schwab spokesman David Weiskopf confirmed that Lewellyn "will play a prominent role" in the new unit, but Weiskopf insisted that Lewellyn "will not be the head of that group," despite published reports to the contrary.
"His position has not been entirely defined," Weiskopf told the MFWire
, adding that the question of whether or not there will be a specific leader for Schwab's ETF business is "still being worked out."
"The details of the new team are still being finalized," Weiskopf said, declining to comment further due to the SEC quiet period.
In February, The MFWire reported
that Schwab was getting into the ETF game; Schwab provided more details in July
Correction: A previous version of this article incorrectly described Lewellyn's role. According to David Weiskopf, Lewellyn's specific duties at Schwab's new ETF unit have yet to be defined.
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