McNeil steps down from WisdomTree role

McNeil steps down from WisdomTree role

Hector McNeil and Nik Bienkowski are stepping down from their roles as co-chief executives at WisdomTree’s European entity amid organisational changes at the business.

The company has announced that David Abner, currently WisdomTree’s head of capital markets, will move to London in August, replacing the departing duo in leading WisdomTree Europe.

The change comes as the ETF specialist buys out the remaining stake in its European entity, of which it already owned 75 per cent.

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WisdomTree Europe was formed when the US firm bought a 75 per cent stake in London firm Boost in 2014. Boost was founded by Mr McNeil and Mr Bienkowski in 2011.

Mr Abner has worked for WisdomTree for eight years, and previously led work to build up BNP Paribas’ ETF trading group in the US.

Jonathan Steinberg, WisdomTree president and chief executive, said: “We wish Hector and Nik continued success as they pursue new entrepreneurial initiatives, and we are extremely pleased to announce that David Abner will replace Hector and Nik to lead WisdomTree’s European business in connection with the completion of the buyout.”

WisdomTree’s European platform has grown to approximately $940m (£654m) in assets, from an initial base of $50m in 2014.