American Century has hired Matt Lewis from BlackRock as vice president and head of exchange-traded fund (ETF) implementation and capital markets.
Prior to joining the firm, Lewis was head of iShares broker-dealer execution services for America.
‘Matt's vast ETF experience and proven strategic, product development, capital markets and operational leadership skills make him a perfect fit for our ETF team,’ said Ed Rosenberg, senior vice president and head of ETFs for American Century Investments.
Rosenberg was hired to head the firm’s ETF business in June when he joined from Northern Trust, where he was head of ETFs and capital markets.
Although American Century does not have any ETFs on the market yet, it has filed for two with the Securities and Exchange Commission (SEC) and additionally announced a partnership with semi-transparent active ETF provider Precidian, part-owned by Legg Mason.
Other firms to strike a deal with Precidian include JPMorgan Asset Management, BlackRock, Nationwide and Legg Mason.
in June American Century filed for the American Century Stoxx US Quality Value ETF and the American Century Diversified Corporate Bond ETF and has already received exemptive relief from the SEC on the latter.
While the equity ETF is a passive fund, which tracks an index provided by Stoxx, the fixed income ETF is a transparent actively-managed fund.
'I definitely think the fixed income market is under served dramatically, especially on the non-traditional index or the active ETF side,' Rosenberg told Citywire recently.
Rosenberg said also he planned to hire an ETF portfolio manager.