Global X unveils new portfolio chief after Man exit

Global X, the $7.8 billion exchange traded fund (ETF) specialist provider, has appointed Chris Wolak to formally replace long-serving portfolio management head Cliff Man.

Wolak, who joins from UBS Global Asset Management, will serve as Global X’s new head of portfolio management, overseeing the ETF specialist investment firm’s product line-up, covering equities, fixed income, commodities, and digital assets.

As part of his new role, Wolak will also manage Global X trading infrastructure, service provider relationships, and product development.

Wolak replaces incumbent Cliff Man, who will depart Global X at the tail end of August after more than a decade with the business and its predecessor entity ETF Securities.

William Taylor will step in as interim head of portfolio management until Wolak formally commences his new role in October.

Man’s departure comes after reports last week that Global X Australia chief executive Evan Metcalf will step down from his role. Metcalf joined Global X 2014, and was promoted to chief executive in 2022 following the acquisition of the firm (then known as ETF Securities) by Korean financial services group Mirae.

Wolak brings more than 18 years of portfolio management experience, including 12 years with UBS Global Asset Management, where he led the Australian division’s index portfolio management team.

During his tenure, Wolak was noted for his role in “[spearheading] the establishment of the firm’s APAC regional indexing capability, including building a portfolio management team, which resulted in over AU$28 billion of client portfolio growth”.

Young Kim, chief global officer at Mirae Asset Global Investments, recognised Wolak’s “deep understanding of funds management and exceptional track record” in the space.

“We are excited to welcome him to our team and confident his ability will help drive forward our mission to provide better investment solutions for Australians,” Kim said.

Wolak added that he was “thrilled to be joining the team during a pivotal moment of innovation in the Australian ETF market”.

“Global X has seen tremendous success over the past few years, I look forward to leveraging my experience to help lead the next phase of the firm’s product suite and evolution.”

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Correction: A previous version of this article stated that Cliff Man had departed Global X at the beginning of August. Global X confirmed Man will remain with the business until at least 27 August 2024.