Global X CFO, CIO Exits Add to Leadership Departures

The departures of Jon Maier and Ronnie Riven follow those of the company's CEO and COO last November.

Global X's CIO and head of finance are set to leave their positions, adding to C-suite departures the ETF provider has already suffered.

Both CIO Jon Maier and head of finance Ronnie Riven have stepped down, a Global X spokesperson confirmed, adding in a statement that both would remain for "a transition period."

“Both Jon and Ronnie have made invaluable contributions to Global X since joining the firm,” the spokesperson said in the statement.

Maier has been with the firm since 2017, joining from Merrill Lynch, where he was head of ETF strategy for over a decade. Prior to Merrill Lynch, he held positions with UBS and PaineWebber.

Riven joined Global X in 2018, where he was director of finance before becoming chief financial officer in November 2023. With 108 ETFs traded on U.S. markets, Global X ETFs have total assets under management of about $43 billion The average expense ratio is 0.54%.

Interim CEO

This development adds to a series of high-level departures that Global X experienced toward the end of last year. 

Global X’s CEO Luis Berruga and chief operating officer John Belanga both departed last November.

Berruga oversaw Global X’s ETF market share doubling, its entry into European ETFs in December 2020 and the acquisition of ETF Securities Australia in July 2022 during his time as CEO.

Berruga was replaced by interim CEO Thomas Park who is a Global X board member and co-CEO of the U.S. arm of parent company Mirae Asset Global Investments.