With exchange-traded funds flooding the market, the demand for ETF executives has been rising as well, Dow Jones reports. Likewise, these executives are commanding very competitive salaries.
Last week, for instance, Barclays Global Investors lured Noel Archard away from Vanguard, where he had worked for a decade, to head up ETF product development for Barclays. Archard will probably be expected to help the company maneuver through regulatory approvals so that it can be the first to bring new flavors of ETFs to market.
“This is a growth market, and people with experience are getting paid,” commented Paul Mazzilli, a Morgan Stanley analyst who covers the ETF market.
“The movement in the industry speaks to all the opportunity right now in ETFs,” said Barclays spokeswoman Christine Hudacko. In fact, Barclays has lost a number of its ETF executives to competitor WisdomTree Investments and State Street Corp. Bruce Lavine, Rich Morris, Todd Westby and Ray DeAngelo went to WisdomTree, while Tony Rochte joined Barclays as hear of U.S. intermediary sales and client service.