Former WisdomTree Europe co-chief executives Hector McNeil and Nik Bienkowski have confirmed plans to launch a ‘white label’ ETF platform first reported by Wealth Manager last week.
The platform will help companies that lack the scale or expertise to launch and develop ETFs in Europe, supplying back office and support functions normally associated with major businesses.
The duo registered a company called Han ETF, based in London, in March this year, according to Companies House filings. McNeil (pictured) and Bienkowski both hold between 25% and 50% apiece of the company’s shares.
McNeil said: ‘There is a powerful trend towards ETFs in Europe and asset managers will need to be able to issue passive, smart beta and ultimately active investment strategies in a timely and efficient manner to take advantage of this demand.
‘We believe we have a unique offering in Europe and we want to help any companies who may have thought the road to market too costly, time consuming or management intensive to issue ETFs under their own efforts.’
McNeil and Bienkowski, former managing partners at ETF Securities, launched an exchange traded product (ETP) firm in October 2012 called Boost ETP, which was initially funded by the pair.
WisdomTree then acquired a 75% stake in Boost in 2014 for $20 million (£12.7 million), creating WisdomTree Europe in the process. WisdomTree later agreed to buy out the minority shareholders in 2018.
This was completed ahead of schedule in May last year. The duo stepped down after WisdomTree brought in new management.