Invesco PowerShares expands European team with portfolio management hire

Acquired ETF provider Source earlier this year

Invesco PowerShares has made its first Europe-based portfolio management hire, recruiting Raphael Stern from Deutsche Asset Management, as it looks to further its scale across the continent.

Stern joins as head of portfolio management EMEA and will report to Brian Hartigan, global head of ETF investments. He will be responsible for building a team of portfolio managers to manage a regional range of ETFs.  He joins Invesco PowerShares from Deutsche Asset Management where he worked as a senior ETF portfolio manager for two years and worked on expanding the Xtrackers range to over 30 products. Prior to this he worked as a portfolio manager and trader at Vanguard for five years and as an analyst at Goldman Sachs and Lehman Brothers.  Invesco PowerShares said this hire fits...