Invesco PowerShares has hired its first Europe-based in-house portfolio manager, the company has announced.
The world’s fourth-largest ETF provider has hired Raphael Stern as head of portfolio management EMEA.
Based in London, Stern will report to the firm’s global head of ETF investments, Brian Hartigan. Stern will be responsible for building a team of local portfolio managers to oversee the regional range of ETFs.
Stern has 10 years of industry experience and joins Invesco PowerShares from Deutsche Bank Asset Management in London, where he worked as a senior ETF portfolio manager.
He was the first member of the ETF fixed income team and helped to build the x-trackers range of physical ETFs to over 30 products in two years.
Commenting on the hire, Hartigan said: ‘Raphael has extensive experience in the ETF sector and his hire reflects our ambitions in the competitive European market.’
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 in the region and $162 billion globally.