BlackRock Investments Canada Inc. has appointed Mary Anne Wiley managing director and head of its combined exchange-traded fund business, replacing Som Seif, founder and chief executive of the recently-acquired Claymore Investments, Inc.
Seif, who will be leaving the company to pursue other opportunities, has agreed to remain with the BlackRock organization to support the transition, working closely with Wiley. Wiley was formerly head of distribution for iShares.
"We'd like to thank Som for his innovation and contribution to the Canadian ETF marketplace and for his guidance through the transition" said Wiley, in a statement. "Without question, bringing together the impressive combined product roster and people on BlackRock's platform will deliver an unparalleled opportunity to serve Canadian investors."
BlackRock had entered into a definitive agreement with Guggenheim Partners to acquire all of its interest in Claymore in January. It sealed the deal on March 7. BlackRock soon after renamed most of the firm’s funds under its iShares product line. It also closed down the Claymore Inverse 10 Yr Government Bond ETF and plans to distribute to shareholders the proceeds from the liquidation of the assets by June 22.