Bowen Takes Control Of First Trust
First Trust LP’s President James Bowen has acquired control of the Wheaton, Ill.-based money management firm, and while the transaction won’t affect the day-to-day operations of any First Trust funds, the change of ownership means shareholders will have to approve the new management.
Terms of the transaction under which Bowen acquired 100 percent of the voting stock of the fund company’s general partner, The Charger Corp., weren’t disclosed in a press release First Trust disseminated on Oct. 12. Bowen has been with First Trust since it was founded in 1991 and was part of a predecessor entity before then as well.
Shareholders of record as of Sept. 30 were to vote on the new management in December, the press release said. The transaction closed on Oct. 12.
Ebner To Head SPDR Product Development
State Street Global Advisors, the world’s No. 2 ETF company, named Scott Ebner to the newly created post of managing director and global head of ETF product development.
Ebner joins State Street from NYSE Euronext, where he oversaw the listing and trading of ETFs, warrants, certificates, structured notes and other exchange-traded products.
In his new role, Ebner will head product development and focus on expanding State Street’s share of the growing global ETF business.
Bourcier Leaves Lyxor
According to reports in Portfolio International and the Financial Times, Isabelle Bourcier, global head of ETFs at Lyxor, the subsidiary of French bank Société Générale, is leaving the firm to pursue other opportunities.
Portfolio International reported additionally that Thomas Meyer zu Drewer, head of Lyxor’s German ETF operation, is shortly to move to Commerzbank as head of European business.
Lyxor is adding other senior staff, however, including Simon Klein, formerly global head of sales for Deutsche Bank’s db x-trackers arm, says the publication.
Nizam Hamid, previously head of sales strategy at iShares, is shortly to join Lyxor; originally his planned role at Lyxor, according to sources, was to be global co-head of ETFs with Bourcier.
Topix Head Moves To Singapore
As of November, Masayuki Kato has moved to Singapore, where he is now the general manager and chief representative of the Tokyo Stock Exchange’s office there. He will be responsible for managing the exchange’s relationships with other exchanges and financial institutions.
Kato was previously the head of the TSE’s index operations, overseeing index development and licensing. The exchange’s best-known index is the widely used Topix benchmark, which covers Japan’s stock market and underlies a broad range of products around the world.