PIMCO Expands ETF Capital Markets Team with Hiring of Northern Trust AM

PIMCO has expanded its ETF capital markets team with the appointment of Jean-Baptiste Faure from Northern Trust Asset Management (NTAM).

Faure joined NTAM as head of ETF capital markets for the EMEA region in March 2020 ahead of the US asset manager’s entry into the European ETF market last March.

Previously, he spent three years as a senior ETF capital markets specialist in Europe at Candriam and five years in the ETF capital markets team at ETF Securities prior to its acquisition by WisdomTree in 2017.

The lease signals PIMCO’s intentions for its range of ETFs in Europe, which currently houses 8.6 billion euros in assets under management (AUM), at the end of the first quarter, according to Morningstar data.

In April 2020, the American giant announced its intention to take over its European ETF business internally after ending its distribution partnership with Invesco.

The partnership officially ended on June 12, 2020, with the two US rivals collaborating for three years after Source was acquired by Invesco in 2017.

In October 2020, Ryan Blute, Managing Director and Head of Global Wealth Management, EMEA, at PIMCO said ETF feeds it intends to become the “undisputed leader” of active bond ETFs in Europe.

However, the company has yet to make a real push, either through new ETF launches or hiring since taking over its lineup.

PIMCO originally entered the market in December 2010 in partnership with Source, which distributed its bond ETFs across Europe.

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