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ETF Securities expands sales team to meet booming ETC demand since listings
04/12/06
- Three key new hires to sales team
- ETCs see 257% growth since January
ETF Securities (ETFS), the global pioneer of Exchange Traded Commodities (ETCs), is expanding their team further in response to the large demand for their ETC products following their recent listings on Euronext Amsterdam, the London Stock Exchange, and Deutsche Bourse.
Since January, ETF Securities has seen a 257% growth of assets under management - going from $59.5m to $211.7m - and to meet this interest three new hires have been recruited to handle sales and business development in the UK, Benelux and Switzerland, and Ireland.
ETFS has added three new sales executives to its sales team to cover investors in the UK, Ireland, Benelux countries and Switzerland.
In the UK, Nigel Phelan will take charge of the sell side brokers and investment banks on behalf of ETFS. Nigel previously worked at Susquehanna, Merrill Lynch, and most recently Churchill Capital.
Socheat Chhay will take responsibility for sales coverage for the Benelux countries and Switzerland. He was previously employed as market making manager specializing in structured and investment products, including ETFs, for Euronext NV Group.
John Looby will be responsible for sales coverage of Irish investors. Formerly he was a principal at Goodbody Alternative Investment Management, an Irish Alternative Investment Manager, created within Goodbody Stockbrokers to design, manage and market Absolute Return Funds within Ireland. Prior to this John spent five years as head of fixed Income at Setanta Asset Management, the Irish Asset Management subsidiary of the Canada Life Group, and eight years on the fixed income desk at NCB Stockbrokers.
ETFS intend to continue to expand the sales team to meet the demand generated from its listings across Europe.
In October, ETFS listed 31 ETCs on the Deutsche Bourse, this was following a successful launch of 29 ETCs on the London Stock Exchange in September and two oil ETCs on Euronext Amsterdam in July. These new securities are the first listed products to track a series of sub-indices representing individual commodities, along with commodity groups, that have recently been added to the Dow Jones-AIG Commodity Index family.
ETCs are a secure and transparent investment designed to give investors a total return based on futures pricing. They provide investors with a simple and cost-effective way to obtain direct exposure to commodities prices without having to trade futures contracts or take physical delivery of the commodities - which investors were previously unable to do. ETF Securities' listing of the ETCs across Europe has enabled investors to trade an expansive range of commodities in euros through an ordinary brokerage account in the same way as equities in a way that was previously unavailable.
Commenting on the appointments, Chairman and Founder, Graham Tuckwell said:
"Following our recent listings and huge demand for our ETCs we are delighted to welcome Nigel, John and Socheat to the team. It is an exciting time for ETFS and they will be key in meeting the rapidly growing interest in our products and expanding our client base."
"We are aiming to significantly further grow the money under management, develop our business, build the team, and expand our offering - we will be making additional announcements in the coming months."
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