IShares has appointed Mark Wiedman as head of the exchange-traded fund unit, The Wall Street Journal reports. Wiedman will succeed Mike Latham, who will assume the newly created post of chairman of the ETF business to focus on long-term planning.

Previously, Wiedman was head of corporate strategy for IShares’ parent company BlackRock. The restructuring comes at a time when IShares’ market share is falling, though its assets under management have doubled since 2007.

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