Vanguard Asset Management has recruited a former product specialist from iShares, the dominant provider of exchange-traded funds (ETFs).
Vanguard, a relative newcomer to the European ETF market though with an established business in the US, has recruited Axel Lomholt as head of its Europe product development and management function.
Lomholt previously spent six years at BlackRock, which runs iShares, and at Barclays Global Investors, which BlackRock acquired in 2009.
Vanguard launched its first suite of European domiciled ETFs in May last year and now has around £170 million (€209 million) in assets under management.
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