Bond Trims PowerShares Role
H. Bruce Bond, founder, CEO and chairman of Invesco PowerShares, announced in November that he will be scaling back his role with the ETF provider and will no longer hold the position of CEO.
Ben Fulton, currently the executive vice president in charge of global product development, will be taking on the day-to-day management responsibilities of the Invesco unit as a managing director.
PowerShares’ leadership team will report to Fulton, who will also join the Invesco Global Product Committee. Invesco executives Andrew Schlossberg and David Warren will also take on leadership roles with the Invesco PowerShares unit.
Bond said he will remain active and involved with PowerShares, but that the change will give him more flexibility to work on other things. He originally founded PowerShares Capital Management in 2003.
Fulton joined the PowerShares team in 2005 from Claymore Securities, where he was co-founder, president and CEO. |
