Anthony Dudzinski is out at XShares, the exchange-traded fund provider he co-founded in 2006.
Dudzinski left his positions as chief executive officer of XShares Advisors, the ETF provider, and as president and board member of XShares Group, the parent company, on July 15. XShares also laid off a large part of its sales staff around the same time.
“I have decided to pursue some other opportunities,” said Dudzinski. “While no longer an employee, I have signed a consulting agreement to help them implement their business plans. I have a long-term interest in their success. This new relationship allows me to do a lot of different things.”
He said he would continue to bring in new clients who would like to get into the ETF marketplace.
XShares is best known for the HealthShares ETF family, a group of funds that sliced and diced the health care industry into 19 specialized categories, such as cardiology, cancer, dermatology and orthopedic repair.
Dudzinski’s departure marks a low point in a tumultuous year for the small New York firm. At the end of the first quarter, William Henson, the parent company’s CEO, left for an extended leave of absence. A member of Grail Partners (itself an early investor in XShares), Henson lasted less than five months on the job with XShares. The reason for his departure was never given.
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