ETFS Capital and Lion Point Capital have jointly written an open letter to WisdomTree Investments, calling for a new CEO at the firm and nominating three candidates to the board to “reverse years of severe underperformance” and “restore WisdomTree’s credibility”.
ETFS Capital currently owns 10.4% of the common stock of WisdomTree, after ETF Securities sold its European and North American asset management businesses to WisdomTree, Legal & General Investment Management and Aberdeen Standard in 2018, and became ETFS Capital, while Lion Point Capital owns 3.1%. The open letter revealed the two companies formed a group "after having independently reached similar conclusions about the significant opportunity to create value through actions within the control of the management and board of directors of WisdomTree". In the letter, ETFS Capital and Lio...
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