| NEW YORK, Sept 19
NEW YORK, Sept 19 Mick McLaughlin, the head of
exchange-traded funds distribution in the Americas for Deutsche
Bank AG's U.S. asset management unit, has left that
company, his new employer, 55 Capital Partners LLC, said Monday.
Reuters earlier reported that Dodd Kittsley, who had served
as head of strategy for ETFs and related products for the same
Deutsche Bank unit, left the company for Davis Advisors.
McLaughlin will serve as head of intermediary sales for 55
Capital, which manages investment portfolios of ETFs. The
company's CEO, Bruce Lavine, is the former president of
WisdomTree Investments. Co-chairman Lee Kranefuss
helped launch iShares ETFs, now a part of BlackRock Inc.
Deutsche said last month that it had hired State Street Corp
and Invesco PowerShares veteran Bobby Brooks as
national sales manager for retail.
Deutsche's Asset and Wealth Management's Americas division
is known for products that reduce the risk of currency
devaluations, which lower returns on international stocks. Its
U.S. ETF business grew to $15 billion, as of the end of August,
according to Morningstar Inc data. The company declined
(Reporting by Trevor Hunnicutt; Editing by Cynthia Osterman)