Leading Australian ETF manager, BetaShares, announced the appointment of former BlackRock Vice Chairman, Blake Grossman, as a non-executive director.
Grossman is a pioneer in the global index and ETF industry, and has helped pave the way for exchange traded funds to forever change how millions of investors around the world construct their portfolios, the statement said.
Grossman was previously the Global Chief Executive Officer of Barclays Global Investors/iShares from 2002 until its sale to BlackRock in 2009. From 1985 to 2002, Grossman held various executive positions with Barclays (BGI) and its predecessor organisations, including Chief Investment Officer from 1992 to 2002.
Grossman founded BGI’s Advanced Strategies Group in 1992, where he was responsible for leading the development of the firm’s quantitative, enhanced index, and asset allocation strategies. Following BlackRock’s acquisition of Barclays Global Investors in 2009, he served as vice chairman at BlackRock until early 2011.
Grossman currently serves as managing partner of ThirdStream Partners LLC., which focuses on private and early-stage investments in financial technology and asset management businesses. Grossman has also served on the boards of a number of leading financial services companies, including Financial Engines, Axioma and ETF.com.
Commenting on Grossman’s appointment, BetaShares Chief Executive Officer, Alex Vynokur, said, “We are excited to welcome Blake to the Board of BetaShares. Blake’s extraordinary experience across the industry globally will provide us with invaluable expertise as we enter the next phase of our development.”
“I have admired the outstanding innovation, investor-centric focus, and strong culture at BetaShares for many years, and I’m delighted at the opportunity to join its Board,” said Grossman. “I’m very excited to help support BetaShares’ next stage of growth, and look forward to helping the firm further extend the breadth of expertly engineered, highly efficient investment solutions for its clients.”
The appointment of Grossman follows BetaShares’ recent announcement that it has received a significant investment from TA Associates, a leading global growth private equity firm, to fuel a major expansion of its business activities.
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