Lyxor has promoted Marcello Chelli to European head of ETF distribution and retail, effective 1 April.

In the newly created role, Chelli (pictured) will be responsible for promoting and expanding ETF usage among distributors and wealth professionals across the region.

This will involve the creation of new vehicles to facilitate ETF distribution to retail investors, across both Lyxor and Societe Generale, and harmonising the firm’s best commercial and marketing practices across European retail markets.

Chelli has held a number of roles at Lyxor’s parent company Societe Generale over a 14-year career which began in 2005, most recently as head of sales, Italy, for Lyxor.

He started his career at Bank of America in 1997 before moving to Borsa Italiana where he spent seven years between 1998 and 2005.

Replacing him will be Vincenzo Saccente, who will be responsible for promoting the use of the firm's ETF range across institutional and retail investors in Italy. He will report to Matthieu Mouly, chief client officer at Lyxor and Roberto Pecora, head of global markets, Italy, at Societe Generale.

Mouly commented: "We know retail investors will be one of the key forces behind the continued growth of the ETF market in Europe in the coming years.

"It is important that we adapt in order to fully capture that trend by being able to present them with innovative solutions taking into account changing saving needs, the rise of online distribution as well as a more demanding regulatory framework.

"With 13 years in charge of Lyxor ETF sales in Italy, Marcello has a deep understanding of what drives distributors and individual retail investors and will be instrumental in helping us achieve this goal."

The newly created role comes at a time when Lyxor is looking to expand its European ETF presence following the acquisition of Commerbank’s Comstage ETF range last June.