Crypto ETP issuer Jacobi Asset Management has appointed Martin Bednall as chief executive.

Effective 1 August, Bednall replaces Jamie Khurshid, who will become chairman of the board at the firm.

Jacobi AM’s former chairman Roy McGregor will remain a director while retaining his position as chairman of Jacobi Investment Funds PCC Limited.

Bednall will continue running the ETF business of FinEx Capital Management as managing director, a role he has held for nine years.

Prior to that, he spent over 13 years as a managing director at BlackRock where he held a number of roles including co-head of the iShares EMEA product team.

He started his career as a transition manager at State Street where he spent six years.

Commenting on the hire, McGregor said: “I see his appointment as a key step in our journey to bring digital assets into the mainstream investment infrastructure and his experience within ETFs, particularly, as a significant addition to an already deep pool of experience.”

Earlier this month, the firm announced it would launch Europe’s first bitcoin ETF after gaining approval to domicile the product in Guernsey.

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