(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 press release. He also spent more than a decade at State Street Global Advisors.
The leadership change comes after 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, the head of human resources, the Wall Street Journal reported earlier.
Global X’s former CEO Luis Berruga stepped down in November after roughly five years at the helm. Thomas Park, the co-chief executive officer of Mirae Asset Global Investments US, led the firm on an interim basis.
The company is currently the 13th largest ETF issuer in the US by asset size, with about $43 billion across its suite of thematic funds, including a uranium fund and an infrastructure development fund, according to Bloomberg Intelligence.
After taking in more than $14 billion in 2021, Global X took in roughly $3.7 billion in 2022, as investor interest for thematic strategies that were popular during the pandemic waned. So far this year, Global X’s funds have taken in a net $384 million.
The firm is now looking to become a “clear-cut leader in the ETF industry,” said Hyeon-Joo Park, founder and global strategy officer of Mirae Asset Financial Group, in the press release. “Now is the right time to bring in new leadership.”
O’Connor’s new role is effective as of April 8.
Mirae Asset acquired Global X in 2018.
(Adds in date of O’Connor’s start. Earlier versions corrected 2022 net inflow in sixth paragraph and corrected spelling of Goldman Sachs in headline and lede.)