As it inches closer to launching its own lineup of exchange traded funds, Goldman Sachs (NYSE: GS) is pilfering talent from some soon-to-be ETF rivals.
On Friday, it was reported that Goldman Tony Kelly from BlackRock (NYSE: BLK) to lead its ETF product development effort.
“Kelly, who spent 15 years working in the iShares ETF business at Barclays Plc and BlackRock, will join Goldman Sachs as a managing director, reports Michael Moore for Bloomberg, citing an internal Goldman memo.
In a May filing with the Securities and Exchange Commission, New York-based Goldman Sachs revealed tickers and fund managers for its six “ActiveBeta” ETFs as well as tickers for its five passively managed ETFs.