Mirae Asset names Goldman's former ETF global head to lead Global X

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Mirae Asset names Goldman's former ETF global head to lead Global X

Published: 21 Feb. 2024, 15:13 Updated: 21 Feb. 2024, 18:42

SHIN HA-NEE
shin.hanee@joongang.co.kr

Ryan O’Connor [MIRAE ASSET GLOBAL INVESTMENTS]

Mirae Asset Global Investments appointed Ryan O’Connor, a former Goldman Sachs global head of ETF product, to head its U.S. subsidiary Global X, the financial firm said Wednesday.

O’Connor will take the helm at New York-based Global X, Mirae Asset’s U.S. exchange-traded fund (ETF) sponsor, starting April 8.

The incoming CEO has extensive experience in the U.S. ETF market spanning over 17 years, the company said. O’Connor served as the global head of ETF products at Goldman Sachs Asset Management, spearheading operations in the global market. He also worked for State Street Global Advisors, which manages the well-known SPDR funds, for over 10 years until 2017.

Global X has assets worth $43 billion under management as of the end of January.

The fund issuer recently completed a major corporate shakeup to become “the global top-tier ETF provider” as part of the Mirae Asset group’s wider corporate reorganization across the board.

“Mirae Asset continues to view Global X as an innovator and a critical part of its growth and success,” said Park Hyeon-joo, founder and global strategy officer of Mirae Asset Financial Group, adding, “Now is the right time to bring in new leadership.”

The goal is to turn Global X from “a rising star to a clear-cut leader in the ETF industry,” said Park.

Mirae Asset acquired Global X for $488 million in February 2018.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]