(Bloomberg) -- Franklin Resources, which has more than $800 billion under management, hired Patrick O’Connor from BlackRock to head global ETFs.
O’Connor, who helped start BlackRock’s iShares business and served as partner in the ETF business for more than a decade, will shape and develop Franklin’s offerings in the newly created role, the San Mateo, Calif.-based money manager announced. He will be based at headquarters and will report to Franklin co-presidents Jenny Johnson and Vijay Advani.
CEO Greg Johnson said in a statement that while Franklin focuses primarily on active funds, it sees opportunities for investors to use a wider range of strategies to meet their needs. Franklin’s website lists one ETF, the Franklin Short Duration U.S. Government ETF.
Asset managers including Nuveen Investments and OppenheimerFunds, which is owned by Massachusetts Mutual Life Insurance, have made hires and acquisitions in recent months to expand their ETFs.