World Gold Council appoints new head of Exchange Traded Gold

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April 15, 2009 6:59am ETF BASIC NEWS NYSE:GLD

gold1UAE. The World Gold Council (WGC) has today announced the appointment of Jason Toussaint as Managing Director of Exchange Traded Gold (ETG)

Toussaint will be based in WGC’s New York Office and joins the organisation from his position as Senior Vice President and Senior Investment Strategist at Northern Trust Global Investments.

He has over 14 years experience in the global investment banking industry having also worked at Morgan Stanley and JP Morgan, and in the US, Asian, European and the Middle Eastern markets.

Jason has extensive knowledge of the ETF market having developed investment solutions for institutional investors and contributed to strategy development in the pensions market whilst in previous roles.

Commenting on his appointment, Jason Toussaint said: “It is exciting to be joining an organisation that is highly relevant and crucial to today’s investment market – the demand for gold investment has soared in recent years, and gold ETFs have made a significant contribution to this growth.

I look forward to the challenge of working in such a dynamic industry and with the very talented and experienced people at World Gold Council Aram Shishmanian, CEO, World Gold Council , said: “As the fall out from the global economic crisis continues to affect millions of investors around the world, many are wondering where it is safe to put their money….

….

Exchange Traded Funds are the newest way of investing in gold. The vehicle allows the metal to be traded in the form of a security on a stock exchange. By design, this form of securitised gold investment is expected to track the gold price almost perfectly. Unlike derivative products, the securities are 100% backed by physical gold held mainly in allocated form.

Exchange traded gold provides retail and institutional investors with an efficient and cost-effective way to invest in gold. When introduced, the gold ETF overcame the previous barriers to gold as a practical asset and trading tool and revolutionised the market.

Full Story: http://www.bi-me.com/main.php?id=34791&t=1&c=33&cg=4&mset=



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