ETF provider Invesco PowerShares has appointed Raphael Stern as head of Portfolio Management EMEA.
The hire aims at reflecting the firm’s commitment to grow its market share in the UK and continental Europe after it recently acquired 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.
Most recently, Stern worked at Deutsche Bank Asset Management in London as a senior ETF portfolio manager.
Formerly, he spent five years as a trader and portfolio manager at Vanguard on the fixed income index desk in London. He also held analyst positions at Goldman Sachs and Lehman Brothers.
Invesco PowerShares’ ETF range in Europe is composed of 90 products with $29bn (€24.6bn) in assets under management as of end September 2017.