Vanguard has restructured its ETF and fund product management team with Mark Fitzgerald promoted to head of product specialism, ETF Stream can reveal.

In his new role, Fitzgerald (pictured) will head-up a team of senior product specialists that have ownership of specific product areas; equity index, ETFs, active equity and fixed income.

Furthermore, Sarah Gibb-Cohen, who is head of equity product management, will head-up a strategic cross category team.

This unit is responsible for multi-asset, the £17bn Life Strategy fund range and cross-category support.

Finally, Caroline Laure-Negre will lead the ETF and fund product management team’s focus on fund health and product governance.

Fitzgerald has spent almost six years at Vanguard having joined from BlackRock in January 2014 where he was responsible for equity portfolio management in the iShares arm.

The restructure is another signal of asset managers looking to combine parts of their mutual fund and ETF arms where possible.

BlackRock’s decision to merge mutual fund and ETF sales teams shows direction of travel for industry

In September, BlackRock announced it was merging its EMEA mutual fund and ETF sales teams with the new team headed-up by the firm's head of ETF and indexing sales, EMEA Ivan Pascual.