Charles Schwab Corp. is beefing up its exchange-traded fund business with a new hire from Guggenheim Investments, Reuters reports.

David Botset, former senior vice president, portfolio strategist, exchange-traded funds at Guggenheim, has joined the firm as its new director, product strategy and development, which is a new position. Botset reports to Jonathan de St. Paer, vice president of product strategy and development.

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