ETF Securities has made 11 employees redundant ahead of its acquisition by WisdomTree in order to reflect the new strategic direction of the business, but chief executive Mark Weeks remains with the group.
The move comes after WisdomTree Investments announced the purchase of ETF Securities' European exchange-traded commodity, currency and short-and-leveraged business for $611m in November, with the deal...
Funds by Amundi and Lyxor among entrants
European Fund and Asset Management Association
Will join IA sectors Q1 2020
Inflows of $99.1bn in Q1
Five key points
400 to be made redundant
Wealth manager also considering sale
'On the surface, flat-rate tax relief is very appealing'