11.13.2017

ETF Securities To Sell European Exchange-Traded Business

ETF Securities Limited has agreed to sell its European exchange-traded commodity, currency and short-and-leveraged business to WisdomTree Investments, the Nasdaq-listed and New York headquartered global exchange-traded product provider.

The business being sold comprises all the European operations excluding the ETF platform.  The business being sold to WisdomTree has $17.6* billion of AUM spread across 307 products, including the flagship gold products PHAU and GBS.  The business has a comprehensive range of commodity, currency and short-and-leveraged products and more than 50 dedicated staff.

WisdomTree and ETF Securities will work to ensure that integration is seamless and expect no change to the current high standards of service and operations experienced by our customers and partners.

The sale is subject to regulatory approval and is currently anticipated to close in late Q1 2018.

Graham Tuckwell, Founder and Chairman of ETF Securities, comments: “We are pleased to be selling our European exchange-traded commodity, currency and short-and-leverage business to WisdomTree and to become the largest shareholder in the company. I believe this combination creates a uniquely positioned firm which will flourish in the years ahead, continuing to deliver huge value for customers and stakeholders.  ETF Securities has a strong cultural fit with WisdomTree as both firms have been built from scratch by teams who have worked closely together for many years and who show an entrepreneurial spirit in seeking to deliver innovative and market leading products for their customers.”

Mark Weeks, the UK CEO of ETF Securities says: “This transaction creates a leading independent global ETP provider which is well positioned to compete in the rapidly growing European ETP market.  We have complementary expertise, product ranges and customer networks.  We both continue to challenge the status quo to provide customers with a range of differentiated products. In this industry customers want and value firms like ours, which provide broader choice.”

Source: ETF Securities

 

Related articles

  1. The strategies are the second launch of Northern Trust Asset Management’s ETF offerings in Europe.

  2. Daily Email Feature

    Digital Assets on the Buy Side

    With Thejas Nalval, Co-Founder and Chief Investment Officer, Parataxis Capital

  3. From The Markets

    Investors Back EU CSRD

    Corporate Sustainability Reporting Directive elevates sustainability information to same level as financial.

  4. Essentia analyses data to create behavorial “nudges” for fund managers' investment decisions.

  5. Corporate Bond Trading on the Rise

    With Adam Conn, Head of Trading, Baillie Gifford