Russell Investments has hired two exchange-traded fund (ETF) specialists in its global ETF business in San Francisco and has singled out Australia as a prime candidate for launching new products.
Russell has appointed James Polisson as managing director of the company's global ETF business and Andrew Arenberg as managing director of global ETF distribution.
Polisson and Arenberg are both former executives of iShares, the world's largest ETF provider.
"Polisson said he sees opportunity for ETF growth globally, specifically pointing toward Australia as a market prime for expansion," a spokesperson for the firm said yesterday.
But the firm said it was unable to provide further details.
"Due to quiet period rules in other markets, Russell as a global firm cannot offer specific details yet in any market on such plans or possible products," the spokesperson said.
Russell Investments global chief executive Andrew Doman said he would like to see the company lead the next evolution in ETF products.
"I'm very pleased to welcome both of these experienced ETF innovators to Russell in order to marshal next-generation thinking on a broad range of ETF-related opportunities," Doman said.
This next-generation thinking is likely to involve actively-managed ETFs, he said.
Russell applied in July last year to US regulator the Securities and Exchange Commission for certain exemptions that would enable it to offer both passive and active ETFs.
New products would include ETFs on the company's own indices, as well as on US shares, international shares and fixed income.
In a separate announcement, the Australian Securities Exchange said it would unveil a new ETF provider during a seminar to be held on 11 February this year.
