City Financial appoints former Source ETF distributor

Handshake5Asset manager City Financial has appointed Stefan Garcia, whose background lies in exchange-traded fund (ETF) businesses, as global head of distribution, based in London.

Garcia anticipates significant growth in alternative investments for the firm, which manages $4.3 billion (€3.8 billion) in assets for individual and institutional investors in long-only and alternative strategies.

Garcia will oversee distribution, marketing, communications and sales.

Prior to joining the business, Garcia was co-head of Europe, Middle East and Africa at Source, an ETF provider that he joined when it was founded in 2009. At Source he was responsible for distribution and helped manage a team of 30 salespeople.

He was also a senior executive at another ETF firm, ETF Securities, prior to that.

City Financial describes itself as a fast-growing independent asset manager, with a presence in London, Hong Kong, New York and Geneva.

Garcia said: “With demand for alternatives expected to grow materially across institutional and wholesale markets over the coming years, the time is right for City Financial to expand its distribution and marketing capabilities to better serve its growing client base."

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