Berruga joined Global X as COO and CFO in 2014 and was named CEO in 2018. Under his leadership, Global X’s AUM has grown to $39bn and its market share has nearly doubled.
Thomas Park, co-CEO of Mirae Asset Global Investments, parent company of Global X, will lead the firm on an interim basis while it finds a permanent replacement for Berruga. He has been a board member of Global X since Mirae Asset acquired the company in 2018.
Berruga joined Global X as COO and CFO in 2014 and was named CEO in 2018. Under his leadership, Global X's AUM has grown to $39bn and its market share has nearly doubled, the firm said.
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According to reports from the FT, a spokesperson from the firm said Berruga was leaving voluntarily to spend more time with his friends and family, and that his exit was not related to the firm's asset flows or growth in assets under management.
Berruga said he was «incredibly proud» of the accomplishments of Global X and will leave knowing they have «built something incredibly special».
«I feel extremely fortunate to have played a part in the development of such an impactful ETF franchise and I want to thank our amazing team and Mirae Asset for helping to build a wonderful firm. I know this team will continue to deliver a tremendous impact to our clients in the years to come,» he said.
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Park added: «On behalf of everyone at Global X and Mirae Asset, I want to thank Luis for his leadership and dedication to the firm. Luis helped build Global X into one of the most innovative and admired ETF issuers in the world.
»He brought excitement and an entrepreneurial spirit to his work — and in doing so — created a passionate workplace. WeRead more on investmentweek.co.uk