State Street Mines ETF Gold
The multipronged launch comes after a turbulent summer in which SSgA saw a shuffle at the top of its ETF management ranks. In August, 18-year SSgA veteran Gus Fleites left to join ProFund Advisors to assist them with their ETF plans. A month later, SSgA snatched David Sandrew from Barclay's to be its director of ETF sales.
"Personnel was a big problem for them, but now they have the right people in place," says Gary Gastineau, managing director of ETF Consultants. "They are finally doing a lot of the right things, and they've learned a lot from their battle with BGI."
Striking gold again wouldn't hurt too much either.
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