Update: Source ETF founder and CEO Hood exits

Ted Hood, chief executive of ETF provider Source, has left the firm six year after launching the business.

The chief executive will be leaving at the end of the month. A replacement has yet to be named. Hood, who previously spent nearly ten years at Morgan Stanley, set up ETF provider Source in April 2009 with Peter Thompson. Thompson, who is currently president of the group, will take over the day=to day=operations of the business while a replacement is sought. Lee Kranefuss, chairman of Source, said: "Ted has helped to grow Source into a leading European ETP provider and position Source for growth. With an ambitious growth strategy to expand the existing business and to enter new geog...