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ETF Securities hires Chief Executive for ETF Exchange
15/06/09
- Mark Weeks appointed as Chief Executive of the ETF Exchange, the world’s first third generation ETF platform
- AUM reaches $12bn, up over 100% since November 2008
- Gold holdings at record with 7.7mn oz backing gold ETCs
ETF Securities Ltd (ETFS), the global pioneers in Exchange Traded Commodities (ETCs) and provider of Exchange Traded Funds (ETFs), continues to grow its business with the strategic hire of Mark Weeks, who joins as Chief Executive of the ETF Exchange, the world’s first third generation ETF platform.
Mark’s appointment is part of ETFS’ expansion plan to join forces with some of the largest financial institutions worldwide to create the ETF Exchange and form Europe’s leading ETF issuer. Mark will be responsible for driving the ETF Exchange strategy, business development and co-ordinating with all parties involved.
Mark joins from UBS where he ran the highly successful Securities Lending franchise in Zurich. Prior to this, he spent 7 years at Goldman Sachs International, where as a Managing Director he was responsible for running the European Securities Finance sales and trading desk, servicing major institutional and hedge fund clients. This desk formed a core part of Goldman Sach’s highly successful Prime Brokerage business. Before being appointed at Goldman Sachs, Mark joined London Global Securities in 1993, as Global Head of Securities Finance sales. Mark started his career in 1985 joining IP Sharp to sell securities finance systems, which led to a role at Morgan Stanley, where he was responsible for the European Securities Finance sales and trading business.
Mark’s hire comes at a time when ETF Securities sees spectacular growth within Exchange Traded Products (ETPs) as assets under management break $12bn. ETF Securities now offers more than 140 ETPs with $12 billion in assets. The ETPs provide investors with a wide variety of investment strategies, with ETPs offering resource equities, physical, long, forward, leveraged and short exposure to all commodity sectors. ETPs are simple to access as they are traded in four currencies (EUR, USD, GBP and AUD) and listed on six major exchanges globally including the London Stock Exchange, NYSE-Euronext Paris, NYSE-Euronext Amsterdam, Deutsche Börse, Borsa Italiana and the Australian Securities Exchange.
Commenting on Mark’s appointment Graham Tuckwell, Chairman of ETF Securities, said:
“We are delighted to announce the appointment of someone of Mark’s calibre and experience. He brings a wealth of experience to the business and brings an important new dimension to our team with his expertise in the field of securities finance. This appointment reflects our dedication to forge ahead with the building of the ETF Exchange, with a view to becoming the most recognized ETC and ETF player in the marketplace. We fully expect Mark to achieve great things with the ETF Exchange which we expect will set the standard in Europe”
Commenting on AUM growth and award recognition, Hector McNeil, Managing Partner/Head of Sales & Marketing at ETF Securities, said:
“Reaching $12 billion in assets is a significant milestone for our business and reflects our dedication to the field of ETFs and ETCs. These investment vehicles are some of the most highly traded products in Europe and the market reaction we’ve had is proof to the success of our ETCs and ETFs.”
For further information, please contact:
Laura Stevens
Tel: +44 (0) 20 7448 4351
Email: laura.stevens@etfsecurities.com
Notes to Editors:
ETF Securities Ltd is a provider of Exchange Traded Commodities (ETCs) and Exchange Traded Funds (ETFs). ETF Securities is independently owned is the European market leader in ETCs. The management of ETF Securities pioneered the development ETCs, with the world's first listing of an ETC, Gold Bullion Securities in Australia and London in 2003 and then the world's first entire ETC platform which was listed on the London Stock Exchange in September 2006.
To learn more about ETF Securities go to: www.etfsecurities.com
This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities (together the "Securities")of ETFS Commodity Securities Limited, ETFS Metal Securities Limited or ETFS Oil Securities Limited or any shares (the "Shares") of ETFS Fund Company public limited company (the "Fund") or any other shares or securities, nor shall it or any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto. Any offer, invitation or solicitation shall be made solely by means of the relevant prospectus (plus any supplements thereto) in the case of the Securities or the prospectus together with the relevant sub-fund supplement in the case of the Shares (in each case the "Prospectus") and recipients of this advertisement who are considering a purchase of Securities or Shares following distribution of the Prospectus are reminded that any such purchase should be made solely on the basis of the information contained in such Prospectus. This advertisement does not constitute any recommendation regarding the Securities or the Shares.
The communication of this press release is not being made by, and this press release has not been approved by, an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 (the "FSMA"). Accordingly this press release is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this press release or any other document issued in connection with the offer and sale of the Shares or Securities is only being made to and directed at those persons in the United Kingdom falling within the definition of Investment Professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), or high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order or any person to whom it may otherwise lawfully be made (all such persons together being referred to as "relevant persons"). The communication of this press release (or any other document issued in connection with the offer and sale of the Shares or Securities) must not be acted upon or relied upon by persons who are not relevant persons. The Fund is a collective investment scheme for the purposes of the FSMA and is a recognised scheme for the purposes of the FSMA. Persons distributing this press release must satisfy themselves that it is lawful to do so. All applicable provisions of the FSMA must be complied with in respect of anything done in relation to the Shares or Securities in, from or otherwise involving the United Kingdom.
This is not an offer of securities for sale in the United States. The Shares and Securities have not been and will not be registered under the US Securities Act or any other applicable law of the United States. The Shares and Securities are being offered and sold only outside the United States to non-US persons in reliance on the exemption from registration provided by Regulation S of the US Securities Act. None of ETFS Commodity Securities Limited, ETFS Metal Securities Limited, ETFS Oil Securities Limited and ETFS Fund Company public limited company (each an "Issuer") has been or intends to become registered as an investment company under the United States Investment Company Act of 1940 (as amended) (the "Investment Company Act") and related rules. Neither the Shares nor the Securities or any beneficial interest therein may be reoffered, resold, pledged or otherwise transferred in the United States or to US persons. If an Issuer determines that any holder of shares is a US Person or any holder of Securities is a Prohibited US Person (being a US Person who is not a "qualified purchaser" as defined in the Investment Company Act), the Issuer may redeem the Shares or Securities (as the case may be) held by that Security Holder in accordance with the provisions described in the Prospectus. Neither the Shares nor the Securities may be purchased with plan assets of any "employee benefit plan" within the meaning of section 3(3) of the United States Employee Retirement Income Security Act of 1974, as amended ("ERISA"), any "plan" described in section 4975(e)(1) of the United States Internal Revenue Code of 1986, as amended (the "Code") or any entity whose underlying assets include "plan assets" of any of the foregoing by reason of an employee benefit plan's or other plan's investment in such entity, which employee benefit plan, plan or entity is subject to Title I of ERISA or section 4975 of the Code or any United States Federal, state, or local law or non-United States law that is substantially similar to the prohibited transaction provisions of section 406 of ERISA or section 4975 of the Code (any such employee benefit plan, plan or entity, a "Prohibited Benefit Plan Investor"). If the Issuer determines that any Security Holder is a Prohibited Benefit Plan Investor, the Issuer may redeem the Securities or Shares held by that person in accordance with the provisions described in the relevant Prospectus.
"Dow Jones," "AIG®" "Dow Jones-AIG Commodity IndexSM," "DJ-AIGCISM", "Dow Jones-AIG Commodity 3-Month Forward Index" are service marks of Dow Jones & Company, Inc. and American International Group, Inc. ("American International Group"), as the case may be, and are licensed for use for certain purposes by ETF Securities Ltd. ETCs based on the DJ-AIGCISM or related sub-indices (including single commodity sub-indices) or 3-Month Forward Indexes are not sponsored, endorsed, sold or promoted by Dow Jones, AIG Financial Products Corp. ("AIG-FP"), American International Group, or any of their respective subsidiaries or affiliates, and none of Dow Jones, AIG-FP, American International Group, or any of their respective subsidiaries or affiliates, makes any representation regarding the advisability of investing in such product(s).
ETF Securities Limited, ETFS Commodity Securities Limited, ETFS Metal Securities Limited, ETFS Oil Securities Limited, Gold Bullion Securities Limited and ETFS Fund Company PLC are each regulated by the Jersey Financial Services Commission
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