WisdomTree Investments has acquired remaining stake in its European entity, of which it already owned 75%.
WisdomTree Europe came into existence when WisdomTree Investments bought a 75% stake in London-based ETP sponsor Boost in 2014.
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In connection with the completion of the buyout, Hector McNeil and Nik Bienkowski stepped down from their roles as co-CEOs at WisdomTree’s European entity.
WisdomTree president and CEO Jonathan Steinberg said: "We are fortunate to have built a strong foundation for growth in Europe through the efforts of Hector McNeiland Nik Bienkowski whose contributions led to the efficient build out of our platform throughout Europe."
The company has appointed David Abner, presently head of capital markets, as the new CEO of its European business.
Abner, who has been with WisdomTree for eight years, will relocate to London in August 2016. Prior to WisdomTree, he led the buildout of BNP Paribas’ ETF trading group in the US.
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By GlobalDataSteinberg added, "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."
WisdomTree’s European platform has grown to approximately $940m in assets under management today from an initial base of $50m in 2014.
