XShares Group has tapped William P. Henson as chief executive officer effective October 1. Henson has worked with XShares for the last year in his role as partner with Grail Partners. He will retain his partnership with Grail. Meanwhile, XShares has secured a $10 million investment from a group of European institutional investors. New York-based XShares will use the funds on sales, marketing and product development efforts.
XShares Group, LLC, a New York-based investment advisory firm focused on introducing innovative exchange-traded funds (ETFs), announced today that William P. Henson has joined the company as Chief Executive Officer, effective October 1, 2007.
XShares has also secured a $10 million investment from a consortium of European institutional investors. The funds will be used to drive sales and marketing efforts and to further product development.
Mr. Henson has worked closely with XShares for the last year in his role as partner responsible for merchant banking investments with Grail Partners, an advisory merchant bank that led the first round of institutional financing for XShares and remains a key investor in the firm. He has spent more than 25 years in the financial services industry, specializing in developing and providing innovative corporate finance solutions to firms of all sizes, with a particular emphasis on financial institutions and the investment management sector.
"We are thrilled to welcome Bill Henson as our CEO," said Jeffrey Feldman, XShares's Chairman and Founder. "Bill has a profound knowledge of the ETF industry, and his vision of its future will be essential to the ongoing growth of XShares, especially as we continue to introduce new and innovative products to the marketplace."
Mr. Henson who will retain his partnership with Grail, was a key member of Putnam Lovell Securities (later Putnam Lovell NBF) prior to Grail Partners. He joined the then privately held M&A advisory boutique in 1996 as co-founder and head of its Corporate Finance Group. Before joining Putnam Lovell, Mr. Henson spent 12 years with Citicorp Securities, Inc. In his last position there, he was Managing Director and Industry Head in the Corporate Finance Group.
"I am very excited to serve as CEO of a firm with such a unique business model and approach to investing, and am confident that as our products continue to come to market, we will increasingly be a leader among ETF sponsors in the asset management industry," said Mr. Henson. "The recent addition of $10 million in new funding will further support the transition of XShares from exciting start-up story to substantive growth company."
Stay ahead of the news ... Sign up for our email alerts now