An ETF startup with a very local focus will soon be expanding its reach.

Elizabeth Seigenthaler Courtney LocalShares, LLC Chief Executive Officer

Geert De Lombaerde of the Nashville Post reports that LocalShares CEO, Beth Seigenthaler Courtney, just hired a pair of executives to lead a pair of new divisions for the Nashville-based ETF shop. The new hires' mission is to expand LocalShares' products, distribution, and geographic reach.

Margaret Dolan joins as president of LocalShares' knowledge division. She previously led the Saint Thomas Health Foundations, and she serves on a host of nearby boards, like Fifth Third Bank Tennessee and the Nashville Area Chamber of Commerce. She is an alumnus of the University of Tennessee and of Vanderbilt.

Chicago-based Matt Hayes joins as president of LocalShares' investment division. Hayes specializes in foreign exchange and previously worked with the Bank of Oklahoma and ABN AMRO. He is an alumnus of Georgetown.

Five-year-old LocalShares' flagship product is the three-year-old Nashville Area ETF, subadvised by Decker Wealth Management, the firm founded by LocalShares chief investment officer Bill Decker. Yet LocalShares' ETF is not a huge one, yet. Per the Post, that ETF now has about $10 million.

Margaret Dolan LocalShares, LLC President, Knowledge Division

Seigenthaler Courtney sees Dolan and Hayes helping expand LocalShares' "offerings in Middle Tennessee and within other vibrant economies."

"Cities like Nashville outpace others because of a deliberate focus around community investments that are value based and structured to produce real outcomes," Dolan tells the paper. "At LocalShares, we will heighten community investment by offering and leveraging opportunities that produce results for both the investor and local economies as a whole." 

Edited by: Neil Anderson, Managing Editor


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