A Legg Mason
alumnus and Vanguard veteran has signed on to lead an asset management giant into the ETF space, specifically the active side.
Ephrata, Pennsylvania-based Brandon Clark
, managing director in the ETF (exchange-traded fund) product management group at Baltimore-based Legg Mason
, recently joined
Pittsburgh-based Federated Hermes
(fka Federated Investors) to launch an ETF business.
A spokesperson for Legg Mason did not immediately return a call for comment.
Clark will serve as director, ETF business, and senior vice president at Federated Hermes, and he will report to Tim Trebilcock
, global head of trading and investment management operations at Federated Hermes.
"Brandon's experience is a tremendous asset for Federated Hermes as he
brings a distinguished record of building ETF businesses including the detailed efforts involved in successfully navigating distribution, operations and capital markets," stated Trebilcock. "It is our goal over time to develop a thoughtful set of actively managed ETFs leveraging Federated Hermes' extensive domestic and global investment capabilities for investors around the world."
As of March 31, 2020, Federated Hermes had $605.8 billion in AUM.
A University of Pittsburgh alumnus, Clark served at Legg Mason
for more than five years in ETF product management and ETF capital markets. Prior, Clark served at Vanguard for more than 16 years in a variety of roles, including: head of ETF capital markets; business analyst; and retirement specialist. Before that, Clark served at PNC Bank for more than two years as a financial consultant. Clark also currently serves as a member board of directors, treasurer, at Dream Factory of Pennsylvania, where he has served for nearly seven years.
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