Alternative Investment

ETF Veteran Phil Bak Named CEO of Armada ETF Advisors

Armada ETF Advisors today announced the appointment of Phil Bak as CEO.

In his new role, Bak, who served as advisory board chairman since November 2021, will build on the firm’s standing as a thought leader in REIT investing, including driving the strategic direction and operation of the Home Appreciation U.S. REIT ETF (HAUS). Armada will also continue to develop technology and intellectual property to drive the launch of atNav, an ETF data and liquidity platform, the firm said in a statement.

“Our research shows that real estate is the one sector where active management tends to provide measurable results, and where the sub-sectors tend to have the lowest correlations,” Phil Bak said in a message to VettaFi. “We think that we can help advisors and allocators by providing something better for their REIT allocation.”

Bak brings more than 15 years of experience to the role. He has served as founder and CEO of Exponential ETFs, CIO of Signal Advisors, and managing director at the New York Stock Exchange, according to a statement from Armada. Bak is the author of two patents on innovative ETF structures and holds the Chartered Alternative Investment Analyst (CAIA) designation. 

Armada ETF Advisors is supported by an advisory board of REIT industry veterans, including Richard Adler, John Guinee, and Christopher Volk. The advisory board will provide valuable, timely market and REIT-specific insights to maximize the firm’s core specialty in residential REITs and support the firm’s portfolio management team, a statement from the firm said. David Auerbach, managing director of Armada ETF Advisors, has been in the REIT industry for over 23 years, with a focus on institutional sell side trading and corporate access. Auerbach is also the publisher of The Daily REITBeat Newsletter, a widely-followed publication that covers the major news and headlines across the REIT industry. Portfolio manager Al Otero has spent 30 years in the REIT industry as an analyst and portfolio manager, most recently with EII Capital Management, according to the firm.

“Phil has been an instrumental member of the Armada team since day one,” Justin Goldberg, current CEO of Armada ETF Advisors, said in a statement. “His extensive experience in capital markets and pioneering work in the ETF industry will serve the firm well as it enters the next stage of growth.

For more news, information, and strategy, visit VettaFi.

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