WisdomTree Europe is seeking to double its staff of 12 over the next 18 months as part of its strategy to expand into the European markets.
On 17 April 2014, American ETF sponsor WisdomTree Investments has completed the acquisition of Boost ETP, a UK-based exchange-traded product (ETP) provider.
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Hector McNeil, co-chief executive of Boost ETP, said that it is also planning to expand into new geographies and asset classes following its acquisition by US-based WisdomTree Investments.
As part of the plan, around US$20 million in cash has also been committed for WisdomTree Europe’s expansion over the next four years.
McNeil said: "We’ll be looking at the core markets in Europe such as Germany, France and the Nordics. Currently Europe is very small when it comes to ETF usage, but in the US it underpins about 50% retail investor participation. We are at $100 million to date and that should accelerate dramatically."
"The deal with WisdomTree gives US$20 million of working capital for product development, to hire new people and introduce new listings," he added.
Additionally, McNeil added the new entity is planning to set up its Ucits platform in Dublin by the end of 2014, and also launch new WisdomTree-branded products including commodity and equity ETF offerings by the end of this year.
