A subadvised ETF shop in Illinois has parted ways with a pair of C-suiters, even as a key new hire comes board.

Michael Norman "Mike" Loukas TrueMark Investments, LLC Principal, CEO

Mike Loukas, principal and CEO of Chicago-based TrueMark Investments [profile] (provider of the TrueShares ETFs), confirms the recent departures of principal and chief operating officer Jordan Fletcher and chief investment officer Jordan Waldrep. The COO and CIO roles will not be filled again for the time being, as another position covering these responsibilities has been created and filled, Loukas tells MFWire.

The TrueMark team, Loukas notes, brought aboard Andy Lyons as investment operations manager last month. Lyons, who is also based in the Chicago area, most recently served as a senior data analyst for Jackson National Asset Management. He started with the firm in 2014.

A Jackson spokesperson confirms that Lyons' last day was December 15.

Fletcher, meanwhile, has joined Cincinnati, Ohio-based Ultimus Fund Solutions as a vice president in relationship management. An Ultimus spokesperson was not immediately able to comment on this story.

As of last month, Waldrep has joined Little Rock, Arkansas-based Bank OZK as CIO in trust and wealth.

The C-suite transitions were amicable across the board, Loukas adds.

Prior to his work with Jackson, Lyons was a fund accountant with Northern Trust Corporation from 2011 to 2014. He is an alumnus of Indiana University Bloomington.

Before joining TrueMark in 2019, Fletcher was COO for USA Mutuals and USA Mutuals Advisors for two years. She was with U.S. Bank from 2011 to 2017 in a number of mutual fund and relationship management roles. Fletcher is an alumna of Missouri Western State University.

Prior to his work with TrueMark (joined 2019), Waldrep was also with USA Mutuals and USA Mutuals Advisors for two years. From 2014 to 2017, he was with Blackfin Advisors as a principal. For nine and a half years before that, he was a principal with Hourglass Capital Management. Waldrep was with Fidelity as a business analyst from 1999 to 2002. He is an alumnus of Texas A&M University and the Texas McCombs School of Business. 

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