Christian Grabbe, chief operating officer at Solactive, and member of the management board, has left his role with immediate effect.

Having spent nearly five years as COO of the German index provider and a member of the company's board, Grabbe (pictured) is seeking a new career opportunity but has not disclosed details of where.

Grabbe’s duties will be divided between the remaining members of the board: Christian Vollmuth (chief risk officer), Dirk Urmoneit (chief indexing officer) and Steffen Scheuble (CEO).

Solactive was founded in 2007, based in Frankfurt. Grabbe assisted Solactive through a busy 12 months having expanded in to ESG and crypto markets, registering as a benchmark administrator and completing numerous partnerships. While Grabbe was acting as COO, Solactive grew from 20 employees at the beginning of 2015 to more than 200 at present.

Steffen Scheuble, founder and CEO of Solactive, said in a statement: “We thank Christian for his valuable contribution over the last five years. It was an intensive journey for the whole organisation and Christian played a very important role during this process. We wish him all the best for the future and his next role.”