BNP Paribas Asset Management (BNPP AM) has made a double hire within its sales team as the firm looks to expand its ETF business in Germany.
Former MSCI index coverage vice president Benjamin Ertler has been named as senior sales manager while Martin Walentowitz also joins as a sales manager.
Ertler joins having spent five years at MSCI, most recently servicing German banks and asset managers.
Prior to MSCI, he was a sales associate at STOXX, part of Deutsche Boerse and spent almost a decade at Deutsche Bank as a private banking adviser.
Walentowitz joins having previously worked in the firm’s wealth management arm as an investment manager for over three years.
Before this, he spent five years at Deutsche Bank, latterly as an investment adviser in its wealth management division.
Both Ertler and Walentowitz will report to BNPP AM’s head of business development for ETF and index solutions for Germany, Austria and Switzerland Claus Hecher.
The pair will be responsible for growing the French asset manager’s ETF franchise in the German market, targeting wealth management, private banking and retail distribution.
Furthermore, they will continue to develop the group’s index solutions integrating ESG and decarbonisation into its ETF range.
Germany is one of Europe’s fastest-growing ETF markets, with a market share of 27% ($432bn), ahead of the UK’s 25% ($400bn) and almost double its next biggest rival Italy, which has a market share of 14% ($224bn), according to Blackwater Search and Advisory.
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Commenting on the appointments, Hecher said: “Their considerable experience of the German ETF market, combined with their excellent knowledge of the specific needs of German private banks and the asset management industry, will be very important for the growth of our business in this market.”
Last week, BNPP AM expanded its ESG range with the launch of the BNP Paribas Easy JPM ESG Green Social and Sustainability IG EUR Bond ETF (ASRQ).
It follows the launch of two thematic ETFs by BNP PAM last month. The BNP Paribas Easy ECPI Global ESG Med Tech UCITS ETF (ASRP) and BNP Paribas Easy ECPI Global Hydrogen Economy UCITS ETF (ASRS).