WisdomTree Investments, which offers market indexes and exchange-traded funds, has formed a new 401(k) division, Reuters reports.

Al Shemtob has joined the firm as the director of retirement services and head of the new division. He previously was president of BISYS Retirement Services, where he worked for 17 years.

Supporting Shemtob will be new hires Ben Slavin, director of product development, and Richard Harper, director of fixed income strategy. Slavin was previously with Morgan Stanley Investment Management and Harper was with RBC Dain Rauscher.

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