Vanguard has appointed Simone Rosti as its first ever head of Italy, hoping to develop the company's offering in the country.

Rosti will be based at Vanguard's European headquarters in London, UK.

He joins from UBS Asset Management where he was head of passive and ETF sales for Europe. Prior to that he was head of ETFs for Italy for UBS.

Thomas Merz, head of distribution for Europe, Ex-UK said that the hiring of Rosti was an important milestone for Vanguard, as the company looks to continue expanding its presence across Europe. "His knowledge and experience will be key to giving investors the best chance of investment success," he said. "We're delighted to add him to the team."

Previous to his positions at UBS, Simone worked for iShares/Blackrock as a senior sales representative for the Italian market, and as head of marketing from 2007-2010. He began his in the financial industry in 2002. He holds an MSc in Political Science and International Relations from Università Cattolica del Sacro Cuore di Milano.

Vanguard manages $5trn on behalf of more than 20 million investors worldwide. Its European operations currently have over $175bn in assets under management as at the end of May 2018.

Vanguard says that within the past year it has grown its presence and footprint in Europe, making a series of senior ETF hires. In June 2018 Vanguard opened its first office in Frankfurt, Germany having listed its European ETF range on Deutsche Börse in October 2017.