Noel Archard will join AllianceBernstein as global head of ETFs and portfolio solutions effective Feb. 7, as the firm announced its plan to build a global exchange-traded fund business.
Mr. Archard, who is joining AB from State Street Global Advisors where he served most recently as the global head of product, will be responsible for bringing AB's "diverse set of investment capabilities to the active ETF marketplace," Alliance said in a news release. He will report to Onur Erzan, head of global client group, the release said.
AB's first set of active ETF offerings are planned for later this year in the U.S., the firm said.
"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 — as we have done successfully in different parts of the market like retail SMAs, income and sustainable investing," Mr. Erzan said in the release.
Mr. Archard brings "a wealth of experience to the table," said Ben Johnson, director of global exchange-traded fund research for Morningstar.
"In his most recent role at SSGA, he successfully rearchitected the firm's ETF range — introducing better benchmarks, reducing fees and improving tax efficiency," Mr. Johnson said.
AB is "a very late entrant to the ETF space — among the few remaining holdouts of note," he added.
"With more investors picking ETFs as their preferred investment vehicle, I don't think they could afford to hold out any longer," Mr. Johnson said.
