Jonathan Steinberg, CEO of WisdomTree Investments, has said its purchase of ETF Securities' European business will add scale, diversification and profitability to the business.
The group announced today it is set to acquire ETF Securities' $17.6bn European exchange-traded commodity, currency and short-and-leveraged business for an expected $611m, subject to regulatory approval. Having agreed terms, the sale is expected to complete in March 2018. Business included in the deal comprises the whole of the European operation excluding the ETF platform Canvas, totalling 342 products and 43 staff. The move will bring WisdomTree's total assets under management (AUM) to $66bn, making it the ninth largest ETP provider globally. WisdomTree's existing product range in E...
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