People Moves

PIMCO expands ETF capital markets team with Northern Trust AM hire

Joined NTAM in 2020

Tom Eckett

a man holding a briefcase looking out a window in a city

PIMCO has expanded its ETF capital markets team with the appointment of Jean-Baptiste Faure from Northern Trust Asset Management (NTAM).

Faure joined NTAM as head of ETF capital markets for EMEA in March 2020 prior to the US asset manager’s entrance into the European ETF market last March.

Prior to this, he spent three years as a senior ETF capital markets specialist in Europe at Candriam and five years as the ETF capital markets team at ETF Securities before it was acquired by WisdomTree in 2017.

The hire signals PIMCO’s intentions for its ETF range in Europe which currently houses €8.6bn assets under management (AUM), as at the end of Q1, according to data from Morningstar.

In April 2020, the US giant announced plans to take its European ETF business in-house after calling time on its distribution partnership with Invesco.

The partnership officially ended on 12 June 2020 with the two US rivals collaborating for three years following Invesco’s acquisition of Source in 2017.

In October 2020, Ryan Blute, managing director and head of global wealth management, EMEA, at PIMCO, told ETF Stream it plans to become the “undisputed leader” in active fixed income ETFs in Europe.

However, the firm is yet to make a real push either through new ETF launches or hires since taking control of its range.

PIMCO initially entered the market in December 2010 in partnership with Source which distributed its fixed income ETFs across Europe.

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