Grail Advisors, a provider of actively managed exchange-traded funds, has recruited Gary Black, the former chief executive officer of Janus, to serve as a director on its advisory board.

“Having an experienced executive like Gary Black join our team is a solid validation of the Grail Advisors business strategy,” said William M. Thomas, chief executive officer of Grail Advisors. “We are changing the face of managed investments, and Gary’s presence will help us build momentum.”

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