The musicians in Journey aren't the only ones who are fond of
the City by the Bay. It looks like San Francisco is on the verge of
becoming an exchange traded fund (
) providers' mecca after another name has announced it's setting up
shop in the city.
The fastest-growing ETF provider,
, is stationed there and
, the largest ETF provider, calls this home base.
U.S. Commodity Funds
calls Alameda, a city in the East Bay, home. Now,
Kathleen Pender for
The San Francisco Chronicle
is setting up shop.
Russell, formerly based in Tacoma, Wash., is setting up its
investment management and consulting firm best known for its stock
indexes, and has already hired about a dozen people. Some of the
rumored employees include three former iShares executives - and
there are openings for nine more. Russell currently has nine ETFs
in the pipeline.
Although several companies - including iShares - license
Russell's indexes for their ETFs, this is the first time
will market its own line of ETFs
Tisha Guererro contributed to this article.