Bruce Lavine
Bruce Lavine
| Bruce Lavine | |
|---|---|
| Born | Bruce Ivins Lavine August 25, 1966 New York, NY |
| 🏫 Education | BS, University of Virginia ; MBA, Darden |
| 💼 Occupation | |
| 🏡 Home town | New York, NY |
| Board member of | WisdomTree Investments, Astoria Portfolio Advisors |
Bruce Ivins Lavine (born August 25, 1966) is an American businessman, exchange-traded fund (ETF) pioneer, public company board director, and entrepreneur.
Lavine was one of the founding members of the iShares ETF business at Barclays Global Investors (BGI), being the first official hire by the iShares business unit CEO Lee Kranefuss in San Francisco in 1999.[1] Bruce was initially the CFO and additionally became the Head of Product Development soon after.[2] From 2000 through 2003, Lavine drove the launch of some of today’s largest ETFs including the first fixed income ETFs (treasuries and corporates), MSCI EAFE, and the first dividend fund (DVY) among others.[3] In late 2003, Lavine and his family moved to London so that he could start up the iShares business across Europe. At that time, the European ETF market was far less developed than it is today. Today the iShares business has $1.9 trillion in AUM globally.[4]
Returning to the U.S. in 2006, Lavine joined WisdomTree Investments in New York City as President & COO just before WisdomTree launched its initial ETF offering.[5] WisdomTree innovated the concept of a new series of ETFs designed to track non-market cap-weighted indexes and has been a major influence in what is now called the smart beta revolution. Operating as the only truly independent and stand-alone ETF business not associated with a bank or asset manager, WisdomTree has grown to a $60B global asset manager today. The firm was listed on NASDAQ in 2011 and remains the only publicly traded, ETF-focused asset manager today. In 2012, Lavine became Vice Chairman, a position he held through 2015. He remains an active Director on the WisdomTree Board today.[6]
In early 2016, Lavine reunited with Kranefuss to act as CEO for 55 Capital, a registered investment advisor focused on delivering a superior investment experience by using only ETFs to implement sophisticated asset allocation and risk optimized strategies. Kranefuss, along with noted former Wharton Professor Vinay Nair, was a general partner of the holding company that launched 55 Capital.[7] Although 55 Capital had a promising start, the business was eventually redirected toward being more of an investment technology platform and is now operating under the name 55IP. Lavine left the firm in 2017 but remains a shareholder.
Career
Lavine began his career in asset management at Bristol-Myers Squibb corporation where he was a senior analyst in the Treasury Group helping to manage the company’s defined benefit and defined contribution plans. In 1994, Lavine joined Wells Fargo Nikko Investment Advisors in San Francisco, the predecessor firm to BGI and now BlackRock. Lavine worked in the Defined Benefit Group at Wells Fargo in a client service role focused on marketing indexing and quantitative active strategies to large pensions, endowments and corporations. In 1998, he was working in a strategic finance role when iShares was incubating internally as a possible business that Barclays might launch.[8]
Current Activities
Since 2017, Lavine has been the Senior Strategy Advisor to Astoria Portfolio Advisors, a New York-based RIA focused on building quantitatively driven, multi-asset class ETF portfolios for advisors and their clients.[9] Additionally, Lavine remains an active Director at WisdomTree Investments.[10]
Affiliations
Lavine's past and present affiliations include:
- Darden School of Business – Former guest lecturer
- CFA Institute – Society Member
- WisdomTree Investments – Board Member
- Astoria Portfolio Advisors – Senior Strategy Advisor[11]
Personal
Lavine was born and raised in Manhattan, NY and attended the Bronx High School of Science. He got his B.S. in Commerce at UVA and four years later his MBA from UVA’s Darden School of Business. Lavine moved to San Francisco in 1994. In 1996, he earned the CFA designation. He married Dr. Elizabeth Zimmerman in 1997 and they had three children. Unfortunately, Lavine was widowed in 2011. Today, Lavine resides in Tiburon, CA. He is an avid soccer player.
Notes
- ↑ Carrel, Lawrence (2008). ETFs for the Long Run: What They Are, How They Work, and Simple Strategies for Successful Long-Term Investing. John Wiley & Sons. p. 160. ISBN 9780470437667. Retrieved 31 October 2019. Search this book on
- ↑ Schwartz, Jeremy. "Top ETF Themes for 2018". WisdomTree. Retrieved 2 November 2019.
- ↑ "ETF Stars - Bruce Lavine, CEO @ 55 Capital Partners". Jobs in ETFs. Retrieved 2 November 2019.
- ↑ "iShares: About Us". iShares by BlackRock. Retrieved 2 November 2019.
- ↑ Brooksbank, Daniel. "Barclays Global Investors' ETF head Lavine exits". IPE. Retrieved 2 November 2019.
- ↑ "Bruce Lavine Joins WisdomTree Investments, Inc. as President and Chief Operating Officer". WisdomTree. Retrieved 1 November 2019.
- ↑ Dieterich, Chris. "iShares Pioneer Kranefuss Launches ETF-Focused Investment Firm". www.barrons.com. Retrieved 2 November 2019.
- ↑ Siegel, Jeremy; Schwartz, Jeremy. "Bruce Lavine: Senior Strategy Advisor; Board Member of WisdomTree, Astoria Portfolio Advisors". Wharton on Business Radio 132. Wharton. Retrieved 1 November 2019.
- ↑ "Bruce Lavine Joins Astoria as Senior Strategy Advisor". markets.businessinsider.com. Marketwired. Retrieved 2 November 2019.
- ↑ "Bruce Lavine". www.etf.com. Retrieved 1 November 2019.
- ↑ "Astoria Portfolio Advisors". ETF Trends. Retrieved 2 November 2019.
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