American investment firm Invesco has reportedly hired Pat Chiefalo as its new head of ETFs and Indexed Strategies Canada, effective immediately.
Chiefalo, who has more than a decade of experience in Canadian ETF space, most recently worked as a managing director and head of iShares Canada managed by asset manager BlackRock.
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He previously also led ETF research efforts at National Bank Financial.
Chiefalo said: “ETFs remain in the early stages of growth in Canada and with Invesco’s focus on innovation and commitment to clients we’ll be able to deliver portfolio solutions investors need to achieve their financial goals.”
In his new role, Chiefalo will report to Invesco ETFs and indexed strategies global head Anna Paglia, who is leading the unit since last May. He will operate out of Invesco’s Toronto office.
Commenting on the development, Paglia added: “We could not be more thrilled to have Pat join our ETF business, his expertise and tenure in the industry will be an asset to our continued growth in Canada.
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By GlobalData“I am sure that he will bring the innovative, client-centric spirit that drives our global ETF businesses to our Canadian line-up.”
Recent developments at Invesco
In November last year, reports suggested that Invesco is looking to grow its China assets to $100bn in three years.
In 2019, Invesco acquired RedBlack, a technology provider in the investment management space, increasing its customer base by over 150 and adding $350bn in platform assets.
The same year, Invesco announced 1,300 redundancies following the takeover of OppenheimerFunds. The job cuts constituted 12% of the combined workforce.
Invesco expanded its fixed income ETF range in 2018 by launching four ETFs that will offer defined maturity exposure in emerging markets.
