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Invesco PowerShares hires first Europe-based in-house Portfolio Manager

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ETF provider Invesco PowerShares has hired Raphael Stern as Head of Portfolio Management EMEA. 

PowerShares says the hire reflects its commitment to growing its market share in the UK and continental Europe in the wake of its recent acquisition of ETF provider Source.
 
Based in London and reporting to Brian Hartigan, Global Head of ETF Investments, Stern will be responsible for building a team of local portfolio managers to manage the regional range of ETFs.
 
Stern has 10 years of relevant industry experience. Most recently, he worked at Deutsche Bank Asset Management in London as a senior ETF portfolio manager. The first member of the ETF fixed income team, he helped build the Xtrackers range of physical ETFs to over 30 products in two years.  Prior to this, he spent five years as a trader and portfolio manager at Vanguard on the fixed income index desk in London. Previous experience includes analyst roles at Goldman Sachs and Lehman Brothers.
 
A CFA charter holder, Stern has an MBA from the Goizueta Business School at Emory University in Atlanta and a BA in International Finance and Marketing from the University of Miami.
 
Brian Hartigan, Global Head of ETF Investments, Invesco PowerShares, says: “Raphael has extensive experience of the ETF sector and his hire reflects our ambitions in the competitive European market.”
 
Stern says: “I’m delighted to be joining Invesco PowerShares as the firm looks to significantly increase its presence in Europe. It is a global leader across the full ETF product range, and is looking to capitalise on this momentum at a time when ETF demand in Europe is escalating.”

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