Som Seif, President and CEO, Claymore Investments, Inc., Toronto. (Claymore Investments, Inc.)

Claymore Investments seeking buyer, sources say

The Globe and Mail

Som Seif, chief executive officer of exchange-traded fund provider Claymore Investments Inc., would not confirm on Wednesday that his Toronto-based firm is on the auction block.

Citing sources, Bloomberg reported that Claymore’s U.S.-based parent Guggenheim Partners LLC is seeking a buyer for its Canadian unit acquired two years ago, and that it has hired JPMorgan Chase & Co. and Royal Bank of Canada to handle the matter.

“We don’t comment on rumours,” Mr. Seif said in an interview.

Mr. Seif worked as an investment banker with RBC Dominion Securities before joining Claymore. The ETF provider had about $6.8-billion in assets under management as of Oct. 31.

Claymore is Canada's second largest ETF provider.