Goldman Sachs Asset Management (GSAM) has hired Source founder Peter Thompson to head its European exchanged traded fund (ETF) business.
Before launching Source in 2009 Thompson spent a decade in Goldmans' derivative and trading divisions in the US, Japan and Europe.
At the time of his departure from Source in August 2016, shortly before its sale to Invesco, the business had $20.5 billion (£15 billion) in client assets and just under 4% of the ETF market.
At Goldmans Thompson will be based in London, reporting to Michael Crinieri, head of its ETF business, an internal memo reported.
'GSAM has become one of the fastest growing ETF issuers since launching the US ETF business in 2015,' the memo read.
'We look forward to building on this success as we expand our footprint in Europe.'
Wealth Manager recently revealed that fellow Source co-founder Michael John Lytle had set up his own ETF business.