Holly Framsted will join Capital Group in March in the new position of head of ETFs.
She will lead the development and launch of Capital Group's first ETFs, spokeswoman Hannah Coan confirmed Thursday.
Ms. Framsted will be based in Capital Group's Los Angeles headquarters.
Capital Group plans to introduce a suite of actively managed equity and fixed-income ETFs early in 2022. The specific ETF strategies Capital Group plans to introduce have not been announced, a company news release said.
Ms. Coan said more investment professionals likely will be hired to build out the company's new ETF unit, but the head count has not been set.
Ms. Framsted was a San Francisco-based managing director and head of the U.S. strategic products segment team within BlackRock's iShares business.
Chad Slawner, a New York-based managing director and U.S. head of product strategy for iShares, assumed Ms. Framsted's position in the interim, BlackRock spokeswoman Amanda Friedman said in an interview.
"The opportunity to build a market for active ETFs (for) Capital Group is tremendous," Ms. Framsted said in Capital Group's release. "This is a company that doesn't launch a new investment solution until it's confident that it will be durable and differentiated, while seeking superior benefits over the long term for investors."
Timothy D. Armour, chairman and CEO of Capital Group, said in the firm's release: "We … realize that adding ETFs to our suite of solutions will help us meet the needs of a large and growing group of investors who want the benefit of an ETF vehicle in their portfolio."
Capital Group managed $2 trillion as of Sept. 30 about half of which was for institutional investors.
