Goldman Sachs Asset Management (GSAM) has launched its ETF business in Europe, with the appointment of Peter Thompson as managing director of GSAM and head of European ETF Business, with immediate effect and expects to launch its first fund in the first half of 2019.
As the new head of European ETF operations, Thompson will be based in London, reporting to Michael Crinieri, global head of GSAM ETF Business. Thompson has over 17 years of ETF experience and was previously the founder, president and interim CEO of Source ETF, an independent asset management firm. In this role, he developed a number of ETFs and established the company as the leading ETF provider in Europe before Source 2016 was sold to Invesco. Previously, Thompson spent more than ten years in various positions in the Goldman Sachs Securities Division.
Nick Phillips, head of International Retail Client Business at GSAM, commented: “ETF demand is high and we look forward to offer our European customers an innovative and cost-efficient product line that will provide our global and in-depth expertise, complementing all asset classes and building on the success of our fast-growing ETF business in the US.”
GSAM was launched in 2015 with its US ETF business and currently manages over $8bn.