WisdomTree Investments added another high-profile industry executive to its A-list leadership team, as former Barclays Global Investors (BGI) executive Bruce Lavine joined the upstart exchange-traded funds (ETF) developer as its new president and chief operating executive. 

Lavine previously held a variety of senior positions at BGI, including head of iShares Europe and New Global Markets, chief financial officer, and director of New Product Development.

"Bruce will be a critical part of the WisdomTree management team, and will play a key role in executing our business plan to become a leading asset management company," said Jonathan Steinberg, Chief Executive Officer of WisdomTree.

Michael Steinhardt, the hedge fund legend who is the chairman of WisdomTree, added, "Bruce is an enormously creative and innovative force in the industry, and is an excellent addition to our stellar management team

WisdomTree currently has no products on the market, but they have filed with the Securities and Exchange Commission (SEC) for the right to launch 20 new ETFs. The ETFs will use a dividend screening methodology in an attempt to outperform the market.

Over the past year, WisdomTree has poached top-level executives from across the ETF industry, including Frank Salerno, former COO of Merrill Lynch, Ray DeAngelo, head of sales and marketing for iShares, and Richard Morris, chief legal counsel for BGI.

In other news, Cynthia Glassman, one of the five commissioners of the Securities and Exchange Commission (SEC), said that she would leave the SEC when her term expires this summer.  That may not sound like news, but most Commissioners stay in their posts until a replacement has been confirmed (a process which can literally take years).  Glassman's term expires on June 5. 

Glassman is well-regarded for having, among other things, led the effort to establish an $85 million investor education fund out of the 2003 global settlement during the conflicts-of-interest scandal involving invesmtent banks and their research analysts.

Ailing Putnam Nabs SSgA Principal

The troubled Putnam Investments poached Eric Roberts from State Street Global Advisors (SSgA).  Roberst will become Putnam's new senior vice president and account manager for institutional business. Roberts was a principal at SSgA, where he focused on institutional sales.

ISE Chairman Stepping Down

 Ivers Riley, chairman of the fast-moving International Securities Exchange (ISE), announced plans to step down by the end of May.  Riley will be replaced by current ISE vice chairman Frank Jones.  Riley has been chairman of the ISE since 2002, helping to lead it through a period of tremendous growth, including its very successful initial public offering.