Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Kranefuss Returns to the U.S. ETF Biz Not Rated 4.0 Email Routing List Email & Route  Print Print
Wednesday, September 17, 2014

Kranefuss Returns to the U.S. ETF Biz

Reported by Neil Anderson, Managing Editor

Lee Kranefuss is back, and with a $19-billion AUM ETF shop to boot.

Yesterday Kranefuss and Peter Thompson unveiled the entry of global ETF shop Source into the U.S. market, complete with the launch of the Source EURO STOXX 50 ETF, Source's first ETF for the U.S. market.

Kranefuss built iShares (now part of BlackRock) into an ETF behemoth before leaving BlackRock in spring 2010. He joined private equity giant Warburg Pincus about two years ago, and in January of this year Source unveiled a deal whereby Warburg would buy a majority stake in the ETF shop, while existing Source shareholders like Bank of America Merrill Lynch, Goldman Sachs, J.P. Morgan, Morgan Stanley and Nomura would stay invested, too.

When Warburg invested in Source, Kranefuss joined Source as executive chairman. Source co-founders Ted Hood and Thompson serve as CEO and president, respectively. Richard Goldman, who previously led Rydex | Security Global Investors (now part of Guggenheim Investments) and chief operating officer of Guggenheim Investments, serves as a senior advisor to Source.

"As a global independent ETF firm, we are unconstrained internally and free to partner with world's leading money managers and other providers of investment content, while still enjoying the support of the largest financial institutions and trading firms," Kranefuss states.

"Entering the U.S. is the next step in the growth of our global business," Thompson states. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

4.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use