Global X CEO Resigns for Personal Reasons in Sudden Departure

Luis Berruga leaves the $39 billion ETF issuer after nearly a decade with the firm.

Reviewed by: Mark Nacinovich
Edited by: Staff

Global X ETFs is searching for a new chief executive following the abrupt departure of Luis Berruga, who stepped down after nearly 10 years with the company. 

Thomas Park, co-CEO of Global X’s South-Korean parent, Mirae Asset Global Investment, will lead the firm until it secures a replacement, according to a Global X press release Monday. 

“Luis has made a personal decision to refocus on himself, friends and family,” a Global X spokesman wrote in an email. “This was a personal decision—and not one he took lightly.”  
Park thanked Berruga in the statement for his leadership and dedication to the firm. 

“Luis helped build Global X into one of the most innovative and admired ETF issuers in the world. He brought excitement and an entrepreneurial spirit to his work—and in doing so—created a passionate workplace,” Park said.  
Berruga, 46, said in the company press release, "I'm incredibly proud of everything we've accomplished at Global X and leave knowing that we've built something incredibly special.” 

Jefferies, Morgan Stanley Veteran 

Prior to joining Global X, Berruga served as an investment banker in the Financial Institutions Group at Jefferies. Berruga has also worked at Morgan Stanley, where he focused on technology and operations strategic planning in the Wealth Management Group. 
New York-based ETF provider Global X, which manages $39 billion worth of exchange-traded fund, was founded in 2008 and acquired by Mirae in 2018, the same year Berruga became CEO. 

Global X has more than 100 ETFs, including its flagship $7.7 billion Global X Nasdaq 100 Covered Call ETF (QYLD), which has gained 18.4% so far this year. 

Contact Jeff Benjamin at [email protected] and find him on X at @BenJiWriter 

Jeff Benjamin is a veteran journalist with more than 30 years’ experience covering the financial markets and broader financial services industry. He most recently worked as a senior columnist at InvestmentNews, and prior to that was an analyst at Cerulli Associates and a money management reporter at Dow Jones Newswires. Based in North Carolina, Benjamin is a former Marine and has a bachelor’s degree in journalism from Central Michigan University.