Global X ETFs Australia CEO to depart
Global X ETFs Australia chief executive, Evan Metcalf, has decided to step down from the role following a decade with the firm.
He will remain at Global X until the end of October 2024 while the business transitions his responsibilities and takes steps to appoint a new CEO.
Global X chief operating officer Oliver Reynolds and head of sales Manny Damianakis will oversee day-to-day operations through the course of the handover.
The firm confirmed it has commenced steps to appoint Metcalf’s replacement.
Metcalf joined Global X (formerly ETF Securities) in 2014 and has held a number of roles over this period, including head of operations, co-head of portfolio management, and head of product.
In September 2022, he was appointed as CEO following the acquisition of ETF Securities by Mirae Asset.
“We have reached many significant milestones during my time at Global X and I’m incredibly proud of everything we’ve accomplished,” said Metcalf.
“I have the utmost confidence in the future of the firm, and I want to thank our team for their hard work and commitment to delivering innovative and client-led solutions for investors.”
Under his leadership, Global X has launched 19 new funds and increased assets under management by some $3 billion.
Young Kim, head of the global business unit at Mirae Asset, thanked Metcalf for his contributions over the last decade.
“Evan performed a pivotal leadership function during his tenure as CEO, establishing a strong foundation for Global X Australia and reinforcing the firm’s position as a leading provider of innovative and disruptive investment solutions,” Kim said.
“On behalf of Global X and Mirae Asset, I want to thank Evan for his leadership and dedication to the firm. We are grateful for Evan’s contribution to Global X and wish him all the best in his future endeavours.”
The news comes almost a year after Global X Australia saw the departure of both its head of distribution, Kanish Chugh, and its head of investment strategy, Blair Hannon.
While Hannon departed to join Macquarie Asset Management as an ETF investment strategist, Chugh’s role was made redundant as a result of a restructure.
Separately, Global X ETFs’ US arm also welcomed a new CEO earlier this year with the appointment of former Goldman Sachs Asset Management’s global ETF product lead, Ryan O’Connor, effective April 2024.
AUTHOR
Rhea Nath
Recommended for you
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
Responsible investment performance concerns have lessened as the market hits $1.6 trillion in AUM, according to RIAA’s annual report, but greenwashing fears among asset managers are on the rise.
Research by Morningstar has found fixed income funds are bucking a general trend around managed fund fee dispersion with a smaller fee dispersion compared to equity ones.
As investors seek to diversify their portfolios, the naming of bond labels has broadened out to include green, social and impact bonds, according to the annual RIAA report.
