(Bloomberg) — Goldman Sachs' Ryan O'Connor is joining New York-based exchange-traded fund provider Global X ETFs as chief executive officer, the company announced Tuesday.
O'Connor was most recently global head of ETF product at Goldman Sachs Asset Management, according to a news release. He also spent more than a decade at State Street Global Advisors.
The leadership change comes as several executives have left the New York-based company in recent months. Among them are Jon Maier, Global X's chief investment officer, Ronnie Riven, head of finance, and Crystal Christy, head of human resources. Wall Street Journal reported earlier.
Former Global X CEO Luis Berruga stepped down in November after nearly five years at the helm. Thomas Park, co-chief executive of Mirae Asset Global Investments US, led the firm on an interim basis.
According to Bloomberg Intelligence, the company is currently the 13th largest issuer of ETFs in the US by asset size, with about $43 billion in the thematic fund group, including a uranium fund and an infrastructure development fund.
After taking in more than $14 billion in 2021, Global X took in roughly $3.7 billion in 2022 as investor interest in thematic strategies that were popular during the pandemic waned. So far this year, Global X's funds have received a net $384 million.
The firm is now seeking to become a “clear leader in the ETF industry,” Hyeon-Joo Park, founder and global strategy officer of Mirae Asset Financial Group, said in the press release. “Now is the right time to bring in new leadership.”
O'Connor's new role is effective April 8.
Mirae Asset acquired Global X in 2018.