Exchange traded fund (ETF) manager BetaShares has appointed former BlackRock, vice chair Blake Grossman, as a non-executive director.
The appointment of Grossman followed BetaShares’ recent announcement that it had received a significant investment from private equity firm TA Associates.
Grossman was previously the global chief executive officer of Barclays Global Investors (BGI)/iShares from 2002 until its sale to BlackRock in 2009.
From 1985 to 2002, Grossman held various executive positions with BGI and its predecessor organisations, including chief investment officer from 1992 to 2002.
Grossman founded BGI’s Advanced Strategies Group in 1992, where he was responsible for leading the development of the firm’s quantitative, enhanced index, and asset allocation strategies.
Following BlackRock’s acquisition of BGI in 2009, he served as vice chair at BlackRock until early 2011.
Grossman currently serves as managing partner of ThirdStream Partner, which focused on private and early-stage investments in financial technology and asset management businesses.
He had also served on the boards of a number of financial services companies, including Financial Engines, Axioma and ETF.com.
Alex Vynokur, BetaShares chief executive, said Grossman’s extraordinary experience across the industry globally would provide BetaShares with invaluable expertise as it entered the next phase of development.
“I have admired the outstanding innovation, investor-centric focus, and strong culture at BetaShares for many years, and I’m delighted at the opportunity to join its board,” Grossman said.
“I’m very excited to help support BetaShares’ next stage of growth, and look forward to helping the firm further develop into a leading, independent Australian financial services business.”