Hector McNeil, head of sales and marketing at ETF Securities, is leaving the company with effect from September 1, it was confirmed this evening in a short statement from the company.

McNeil joined ETF Securities in 2006, following previous jobs at Susquehanna, Nomura, Morgan Stanley, BZW and the London Stock Exchange.

In a recent interview with ETF World, McNeil said the company had grown from 5 people, one product and US$50 million of assets in 2006, when he joined, to 70 people, over 200 products and US$20 billion in assets today.  ETF Securities has diversified from its original business of providing commodity trackers into equity exchange-traded funds and exchange-traded currencies over the last two years. The vast majority of the company's business remains commodity- and specifically gold-related, however.

No further information was immediately available concerning McNeil's departure.