NEW YORK, Jan. 24, 2017 /PRNewswire/ -- OppenheimerFunds, a leading global asset manager, today announced that it has made two key appointments to its Beta Solutions team. Alex Depetris has joined the firm as Chief Operating Officer, Beta Solutions, and Mo Haghbin has joined the firm as Head of Product, Beta Solutions. Both will be based in New York and report to Sharon French, Head of Beta Solutions, OppenheimerFunds.
In his role as COO, Depetris will oversee the continued scalability of the firm's ETF infrastructure to support sustained growth of the business. As Head of Product, Haghbin will identify new opportunities in the marketplace to create compelling ETF solutions that further augment the firm's existing investment platform, which includes equity, fixed-income, alternative and multi-asset solutions, as well as revenue-weighted ETF and ESG ETF strategies.
"Alex and Mo are proven builders of next-gen ETF offerings who have achieved terrific success in the ETF market," said French. "With our focus on investing in the right talent and resources to support the expansion of our business, their combined experience launching compelling ETF products, coupled with our Distribution team's client-centric approach, will be an invaluable combination towards our continued success."
Depetris joins from Deutsche Bank AG where he was a founder, COO and Chairman of the board of Deutsche X-trackers ETF business in the U.S. and also managed the PowerShares DB ETF platform (sold to Invesco PowerShares in 2015). Previously, Depetris was an associate with the law firm of Arnold & Porter LLP in New York. Depetris earned a J.D from Boston University School of Law and a B.S. in Finance from the University of Maryland.
Haghbin joins the firm from BlackRock where he was Head of Business Management, for the US Fundamental Fixed Income teams within the firm's Global Fixed Income group. Previously, Haghbin served as Head of Next Generation Fixed Income Products within iShares Americas. In 2007, he joined Barclays Global Investors (BGI) in the Portfolio Management Group and oversaw the Derivative Product Services and Trading Operations team in San Francisco (BGI was acquired by BlackRock in 2009). Haghbin holds a B.S. from the University of Colorado, and is a member of the CFA Society and the CAIA Association.
The suite of Oppenheimer Factor Weighted ETFs includes:
- Oppenheimer Large Cap Revenue ETF - RWL
- Oppenheimer Mid Cap Revenue ETF - RWK
- Oppenheimer Small Cap Revenue ETF - RWJ
- Oppenheimer Ultra Dividend Revenue ETF - RDIV
- Oppenheimer Financials Sector Revenue ETF - RWW
- Oppenheimer ESG Revenue ETF - ESGL
- Oppenheimer Global ESG Revenue ETF - ESGF
Oppenheimer's fundamental weighted ETFs offer a unique way for advisors, wealth managers, and consultants to access broad market exposure in a more optimal way than the traditional market capitalization strategies. By weighting securities in broad market indices based on top line revenue rather than market capitalization, the Fundamental Weighted Strategies offer the opportunity to reduce overexposure to overpriced sectors and stocks while still providing diversification.
In 2016, OppenheimerFunds expanded its Beta Solutions client offerings into the environmental, social and governance (ESG) space. The firm launched Oppenheimer ESG Revenue ETF (ESGL) which focuses on U.S. large-cap equities with highly rated ESG practices, and Oppenheimer Global ESG Revenue ETF (ESGF), which focuses on global large- and mid-cap equities with highly rated ESG practices. To further enhance the value proposition for clients, the firm also reduced the contractual management fees for five of its Revenue Weighted ETFs.
OppenheimerFunds, a leader in global asset management, is dedicated to providing solutions for its partners and end investors. OppenheimerFunds, including its subsidiaries, manages more than $217 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of December 31, 2016.
Founded in 1959, OppenheimerFunds is a high conviction asset manager with a history of providing innovative strategies to its investors. The firm's 15 investment management teams specialize in equity, fixed-income, alternative, multi-asset, and fundamental-weighted-ETF strategies, that include ESG offerings. OppenheimerFunds and its subsidiaries offer a broad array of products and services to clients, who range from endowments and sovereigns to financial advisors and individual investors. OppenheimerFunds and certain of its subsidiaries provide advisory services to the Oppenheimer family of funds, and OFI Global Asset Management offers solutions to institutions. For more information, visit oppenheimerfunds.com.
An investment in ETFs is subject to investment risk, including the possible loss of principal amount invested. ETF returns may not match the returns of their respective index, known as non-correlation risk, due to operating expenses incurred by the ETF. The alternate weighting approach employed by ETFs (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because ETFs are rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on ETF performance.
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc., 225 Liberty Street, New York, NY, 10281
© 2017 OppenheimerFunds Distributor, Inc. All rights reserved.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/oppenheimerfunds-builds-out-beta-solutions-management-team-300395709.html
SOURCE OppenheimerFunds, Inc.