ETF product provider and asset manager, WisdomTree Investments, Inc, has accelerated the buyout of the remaining minority stake in its European entity and is making management changes, as Hector McNeil and Nik Bienkowski leave the firm.
“We are fortunate to have built a strong foundation for growth in Europe through the efforts of Hector McNeil and Nik Bienkowski whose contributions led to the efficient build out of our platform throughout Europe,” says Jonathan Steinberg, WisdomTree President and CEO.
“Over the course of just two years they assembled the team, the products and the infrastructure necessary for success in the competitive, fast-growing European ETP market.”
WisdomTree’s European platform has grown to approximately USD940 million in assets under management today from an initial base of USD50 million in 2014, with locally listed WisdomTree ETFs and Boost ETPs across the UK, Germany, Ireland, Italy and Switzerland.
Steinberg says: “We wish Hector and Nik continued success as they pursue new entrepreneurial initiatives, and we are extremely pleased to announce that David Abner will replace Hector and Nik to lead WisdomTree’s European business in connection with the completion of the buyout. David’s combination of ETF knowledge and his proven track record as a leader with strong relationships across WisdomTree’s European and U.S. employee base make him the ideal person to spearhead our continued growth in Europe.”
David Abner, presently Head of Capital Markets, will relocate to London in August. He has been with WisdomTree for eight years. Prior to WisdomTree, David led the buildout of BNP Paribas’ ETF trading group in the US.
McNeil and Bienkowski jointly said: “It has been a pleasure to be a part of WisdomTree’s important work in the European market. WisdomTree is a truly innovative and dynamic ETF manager with a bright future. We have greatly enjoyed our time here and wish everyone involved the best of luck for the future. ”
