Barclays Global Investors of San Francisco has hired an executive from one of its rivals, State Street Corp. of Boston, to help develop its exchange-traded fund business.
Dodd Kittsley was named a client segment strategist on the iShares sales strategy team. (Barclays' exchange-traded funds are known as iShares.)
The Barclays Bank PLC subsidiary had more than 2,900 institutional clients and $1.8 trillion of assets under management at the end of 2006.
According to market-share data through Dec. 29 from State Street Global Advisors, Barclays Global was ranked first in the exchange-traded fund market, with a 59.1% share, followed by State Street (24.4%), Bank of New York Co. Inc.'s BNY Hamilton Funds (6.5%), and Vanguard Group Inc. (5.4%).
The hiring of Mr. Kittsley was announced Wednesday. Also this month, Barclays named Sue Thompson, a former Vanguard Group Inc. executive, the national sales manager of its registered investment adviser team. In October it hired Noel Archard, another former Vanguard executive, to head a team in the iShares product development program. Mr. Archard headed Vanguard's institutional ETF sales management.
