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Fleites Out At IndexIQ
Agustin ''Gus'' Fleites has resigned
from his position as president of
IndexIQ, just two short months
after joining the firm in September.
There was no specific reason given
for the departure.
This marks the second rapid
departure for Fleites in recent
years. Before joining IndexIQ,
Fleites spent one year as chief
investment officer of ProShares,
where he oversaw the launch of
the first ProShares ETFs before
leaving in October 2006. Prior
to that, Fleites spent 18 years at
SSgA, where he was instrumental
in the development of the company's
ETF business.
SSgA Looking For New CEO
State Street Global Advisors (SSgA)
is looking for a new leader after President
and CEO William W. Hunt stepped
down in the early days of 2008, largely
because of losses and multiple lawsuits
filed against the firm related to
its actively managed bond funds. In a
break with tradition, the parent company,
State Street Corp., has expanded
its search beyond its own ranks. It
hopes to fill the empty position by the
end of the first quarter.
Futrell At Claymore
Claymore recently announced
that Thomas Futrell, MBA, CFA,
has joined the firm as senior managing
director and chief investment
officer.
In his new position, Futrell will
be responsible for leading Claymore's
research, trading and portfolio
management and supervision
teams and for formalizing the firm's
overall investment and management
approaches. He will also work
on developing the firm's market
and product strategies. Futrell
will report to Claymore President
Michael J. Rigert.
Futrell joins Claymore from
Nuveen Investments, where he
was the director of research for
Nuveen Asset Management. He is
also chairman of the Municipal
Bond Buyers Association.
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