AllianceBernstein enters US ETF market with new hire
Bailey McCann writes that asset manager AllianceBernstein has brought in Noel Archard to lead its entry into the ETF space.
Archard joins AllianceBernstein from State Street Global Advisors where he most recently served as the Global Head of Product. He also previously worked on ETFs at BlackRock and Vanguard.
Archard will be tasked with the development of AB's ETF lineup, with their initial set of active ETF offerings planned for later this year in the US.
He will report to Onur Erzan, Head of Global Client Group. "Establishing the firm's first-ever Global Head of ETFs and Portfolio Solutions role and adding Noel to the team creates an opportunity for AB to generate an innovative and differentiated offering in a crowded space," Erzan said in a statement on Archard's appointment.
AB's entry into the ETF space is late relative to its peers and is an indication of a growing consumer preference for ETFs. The firm entered the Australian ETF market last year and plans to continue developing its lineup for other markets. The US is the next in line. "ETFs have become a very mainstream, and flexible structure for delivering investment strategies to clients," Archard tells ETF Express.
Archard started in his role on February 7. Over the long-term Archard plans to add ETF specialists to his team in addition to bringing the first US funds to market. He says he wanted to work with AB because of the depth of their investment platform.
"AB’s strong investment and research approach across multiple asset classes and geographies will lend itself well to delivering new investment opportunities for ETF investors," Archard said.