Goldman Sachs has appointed industry veteran Jürgen Blumberg as chief operating officer (COO) for EMEA of its platform-as-a-service solution ETF Accelerator, ETF Stream can reveal.
Based in London, Blumberg (pictured) will be responsible for building out the firm’s European business, communicating the ETF Accelerator offering to clients and assisting in executing ETF launches.
He entered the role six months ago after spending four years as head of ETF product and capital markets for Goldman Sachs Asset Management.
Previously, he spent five years as managing director, head of ETF capital markets at Invesco and four years in ETF capital markets at BlackRock.
Prior to that, he held roles in sales and trading in Munich and Amsterdam across Baader Bank AG, IMC and CM-Equity AG.
Lisa Mantil, global head of ETF Accelerator, told ETF Stream: “In addition to strategic external hires, some of our industry experts from across the firm have joined the team, which is in line with our collaborative culture.”
ETF Accelerator debuted its first four active ETF launches in the US on Monday in partnership with Brandes Investment Partners and Eagle Capital, according to Bloomberg Intelligence ETF analyst Henry Jim.
Last November, ETF Stream revealed Goldman Sachs would also be launching its ETF Accelerator service in Europe, offering institutional clients the platform and capital markets capabilities to bring their IP to market through a third-party provider.
“Many of our clients have told us they believe the next wave of growth is in active ETFs. They want to be part of that growth but do not have the expertise or infrastructure to do so," Mantil commented.
“We are delivering a digital solution that allows us to partner with our clients on that journey.”
Goldman Sachs’ offering does not include the sub-advisory or distribution capabilities provided by white-labelling services.
ETF Accelerator currently has around 75 staff based in offices spanning New York, London and Bangalore.
It is looking to expand its footprint with seven job postings listed within the last fortnight for roles including a capital markets vice president, portfolio managers, platform engineers and legal based in Paris, New York, London and Bangalore.
