The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Two Vanguard ETF Gurus Will Power Another Shop's Charge Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 19, 2015

Two Vanguard ETF Gurus Will Power Another Shop's Charge

News summary by MFWire's editors

An active mutual fund giant is pushing into ETFs, with help from the second biggest ETF player in the business.

Yesterday Thoms Hoops, executive vice president of business development for Legg Mason [profile], confirmed the addition of Brandon Clark and Rick Genoni as the ETF product strategy chiefs for the Baltimore-based, publicly-traded mutual fund shop. Clark previously led Vanguard's ETF capital markets group, while Genoni led Vanguard's index and ETF product management team.

Dave Hoffman, a spokesman for Vanguard, declined to comment on Clark and Genoni's departure. He noted that Vanguard brought in $75.3 billion in net cash flow into its ETFs in 2014.

"We continue to see strong and consistent flows this year," Hoffman tells MFWire. "We have a deep and talented bench."

Bloomberg, InvestmentNews, Pensions & Investments, and Reuters all reported on Clark and Genoni's move. A Legg Mason spokeswoman confirmed to Bloomberg that the duo will start next month and will report to Hoops.

Just what is Joe Sullivan, Legg Mason's CEO, up to in the ETF arena? Hoops hints, and Bloomberg agrees, that it is active ETFs "and strategies designed to outperform benchmarks" that interest Sullivan, not normal passive ETFs.

"The ETF vehicle continues to evolve beyond the delivery of traditional index-based passive products and we want to have the ability to offer an ETF vehicle where it is beneficial to clients and consistent with our affiliates' existing investment process," Hoops stated. "At the same time, we believe there is also significant opportunity to create innovative new products within the ETF structure to solve client needs."

Active ETFs have tempted Legg Mason at least as far back as 2009

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. MFDF webinar - Gender Bias in Investment Professional Evaluations, March 9
  2. FinReg Outlook 2021, March 10
  3. MFDF Director Discussion Series - Open Forum via Zoom (Midwest), March 10
  4. Irish Funds North American Digital Seminar, March 11
  5. Nicsa webinar - Listen, Learn & Lead: Empowering and Sponsoring Women, March 11
  6. MFDF webinar - Municipal and Taxable Fixed Income — A Multi-Speed Recovery, March 12
  7. 2021 Virtual Mutual Funds and Investment Management Conference, Mar 15-19
  8. Women for Impact - A Call to Action, March 16
  9. SEC & DOL Standard of Conduct Rulemakings — Present & Future Considerations, March 23
  10. Expect Miracles Foundation's Virtual Mystery Game Night, March 24
  11. MFDF Director Discussion Series - Open Forum via Zoom, March 24
  12. ETFGI Global ETFs Insights Summit - ESG & Active ETF Trends, Mar 24-25
  13. MFDF webinar - Asset Management M&A for Fund Directors — Recent Trends and Governance Issues, March 31
  14. MFDF Director Discussion Series - Open Forum via Zoom, April 7
  15. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  16. ETF.com Awards 2020, April 20
  17. The 31st Sub-Advised Funds Forum, Apr 20-21
  18. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  19. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  20. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  21. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  22. ICI 2021 General Membership Meeting - Day 1, May 6
  23. ICI 2021 General Membership Meeting - Day 2, May 13
  24. 2021 FINRA Annual Conference, May 18-20
  25. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  26. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use