PowerShares Capital Management LLC, a Chicago exchange-traded fund provider, said it had hired Philip Fang to be a vice president and fixed-income portfolio manager and Jeffrey Kernagis to be a vice president of portfolio management.
Mr. Fang, 42, was a municipal bond portfolio manager at Lord Abbett & Co., the company said on Wednesday.
Mr. Kernagis, 39, was a vice president of research and development at Claymore Securities Inc., where he managed exchange-traded fund portfolios for the Canadian operation and supervised its taxable fixed-income unit investment trust offerings.
PowerShares, a unit of Invesco PLC, has $35 billion of assets under management.
