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Rating:Claymore Canada's Founder Leaves iShares Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 04, 2012

Claymore Canada's Founder Leaves iShares

News summary by MFWire's editors

BlackRock is saying goodbye to the founder of Claymore in Canada after buying up the ETF shop. Som Seif is reportedly leaving BlackRock's iShares Canada unit this month.

Advisor.ca, Bloomberg, ETF Daily News, the Financial Post, Pensions & Investments, Reuters and the Toronto Globe and Mail all reported on Seif's impending departure.

BlackRock unveiled the Claymore deal in January [see MFWire.com, 1/11/2012], and the deal closed on March 7. Then last week BlackRock rebranded the Claymore ETFs in Canada as iShares.

"It is very sad to see the Claymore brand go away," Seif told the Globe and Mail. "It's tough seeing your baby go away."

What's Seif up to next?

"I'm young. I'm 35 years old. I still have great ideas," Seif reportedly said. "I think this industry is still very inefficient." 

Edited by: Neil Anderson, Managing Editor

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