IndexIQ has hired Agustin “Gus” Fleites as its new president. He is tasked with building out its asset management business.

“Gus is an industry pioneer who has earned his reputation in asset management building multi-billion dollar platforms and introducing innovative strategies and products that have given investors and advisors access to institutional approaches to wealth management,” said Adam S. Patti, chief executive officer at IndexIQ.

Fleites was most recently chief investment officer and head of ETFs at ProFunds. He left his post there in October of 2006.

Fleites was replaced as CIO at Profunds by William Seale, who at the time was the principal and chief economist of the company.

IndexIQ is also launching two new managed account strategies, HedgeIQ and ETFIQ that coincide with Fleites' hire.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE