Sharon French was named head of beta solutions at OppenheimerFunds, spokeswoman Meredith Richard said.
The position is new. Ms. French will be responsible for growing the firm's smart beta business by both expanding on the firm’s line of factor-weighted exchange-traded funds and also developing new multifactor strategies. She will be based in New York and join the firm's senior leadership team, reporting directly to Art Steinmetz, chairman and CEO.
Ms. French was a senior adviser, multiasset and ETF solutions at BNY Mellon Investment Management. A spokeswoman for BNY Mellon said there are currently no plans to replace her.
OppenheimerFunds managed more than $214 billion in assets as of March 31.