Invesco PowerShares Hires EMEA Portfolio Manager
Invesco PowerShares, the world’s fourth-largest ETF provider, has hired Raphael Stern as Head of Portfolio Management EMEA. The hire reflects PowerShares’ 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, he will be responsible for building a team of local portfolio managers to manage the regional range of ETFs.
Raphael 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, Raphael 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.
Following the acquisition in mid-August of Source, Invesco PowerShares currently offers around 90 ETFs in Europe and has $29 billion in assets under management ($162 billion globally)1. The firm offers European investors a comprehensive range of ETFs, from low-cost funds such as the Source S&P 500 UCITS ETF with an ongoing charge of 0.05% per year, to a suite of innovative Smart Beta products as well as sector-specific and thematic ETFs.
Brian Hartigan, Global Head of ETF Investments, Invesco PowerShares, said, “Raphael has extensive experience of the ETF sector and his hire reflects our ambitions in the competitive European market.”
Raphael Stern said, “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.”
The bookbuilding platform is scheduled for launch in Europe in 2022.
Global ETFs had record net inflows of $1.3 trillion in 2021.
The Universities Superannuation Scheme is the UK’s largest private pension scheme.
Buy-side and sell-side firms need to integrate applications to streamline traders' UX.
Passive funds represented nearly all U.S. equity inflows.