BNY Mellon has been appointed by Europe’s first independent white label Ucits ETF platform to provide custody, administration and trustee services.
HANetf is set to launch an Irish-domiciled platform available to new entrants on the ETF market, to lower barriers to entry for prospective ETF issuers.
HANetf will provide product development, capital markets, sales, marketing, and distribution.
BNY Mellon restructured its ETF team in 2017, which included the hiring of Jeff McCarthy for the newly created role of CEO of ETFs.
Commenting on the venture, McCarthy said: 'The European ETF industry is gaining significant momentum and we are seeing increasing numbers of established asset managers seeking a quick and easy way to get into the ETF space.
'HANetf’s timing is good – with our support, they are very well positioned to meet that burgeoning demand.'