Bloomberg Index Services (BIS) has named Dave Gedeon as chief executive following the retirement of Steve Berkley.
Gedeon (pictured left), who is currently deputy CEO and head of index product at BIS, will take on the role following Berkley’s departure in March this year.
He will be responsible for building on Berkely’s leadership which saw BIS expand beyond its fixed income offering into equities, commodities, ESG and multi-asset strategies.
Prior to joining the business in January 2020, Gedeon spent 14 years at Nasdaq where he was most recently global head of research and development, responsible for the index product management for Nasdaq’s global index business.
“It is phenomenal to see Bloomberg’s growth via acquisitions and also its own organic efforts,” Gedeon told ETF Stream.
“I am incredibly honoured to lead the Bloomberg Index business forward into our next chapter as we strive to continually enhance our offerings with the goal of serving the unique needs of our global client base.”
Berkley (pictured right), who has spent almost nine years in his role at Bloomberg, will bow out from financial services – for a second time – following a career spanning nearly four decades.
Starting his career at Lehman Brothers in 1986, Berkley was pioneering in the fixed income indices space, helping to create the Lehman Brothers Aggregate index which was later purchased by Barclays, renaming it to the Barclays Capital Aggregate index following Lehman’s collapse in 2008.
Berkley left Lehman in 2005 to join Barclays Global Investors which was acquired by BlackRock four years later. He spent seven years at the business, most recently as managing director and chief operating officer of BlackRock Aladdin.
Following a two-year sabbatical, Berkley joined BIS in 2014 and was instrumental in the purchase of Barclays Risk Analytics and Index Solutions in 2016, which included the global, US and Euro-aggregate indices he first help create at Lehman.
In August 2021, Bloomberg Barclays completed its rebrand to Bloomberg Indices.
“Bloomberg is the perfect home for the benchmarks given all the capabilities that exist within the company. I was asked to run the business as the CEO and it has been a successful venture and a lot of fun,” Berkley said.
“It is time to pass the torch to my friend, Dave Gideon, who will take us much further into the future.”
Peter Grauer, chairman of Bloomberg, added: “As a thoughtful and strategic leader, Steve has rightfully earned the utmost respect of his team, our clients, and the wider financial community and we wish him the best in his next chapter.
“With this transition we are pleased to welcome Dave Gedeon into this new role.”