Legg Mason has recruited two executives from Vanguard Group to lead its new ETF strategies, spokeswoman Mary Athridge said.
Rick Genoni was named managing director, head of ETF product management, and Brandon Clark was named director, ETF product management.
The positions are new.
Beginning in March, Messrs. Genoni and Clark will lead the creation and execution of new exchange-traded funds with Legg Mason investment affiliates. They will be based out of Philadelphia and report to Thomas K. Hoops, executive vice president and head of business development at Legg Mason.
Mr. Genoni was principal and global head of index and ETF product management at Vanguard. Mr. Clark was head of ETF capital markets. Vanguard spokeswoman Emily White declined to comment on whether or not they were replaced.
Legg Mason had $709.1 billion in assets under management as of Dec. 31.
