The Investment Association has appointed Keshava Shastry, head of ETP capital markets at DWS, to ETF committee chairman, ETF Stream can reveal.

Shastry (pictured) replaces Lyxor’s former head of ETF strategy for northern Europe Adam Laird who left the French asset manager to set up his own firm last November.

Shastry joined DWS from Credit Suisse Asset Management (CSAM) in 2013 where he was also head of capital markets for two years.

Prior to this, he spent four years in BlackRock’s iShares capital markets team between 2007 and 2011.

Shastry commented: “I am very pleased to be chairing this committee. In these unprecedented times, ETFs are once again demonstrating their resilience and importance as efficient market access instruments, which means the coming years are likely to be characterised by significant further expansion for the industry.

"I look forward to working with my IA ETF committee colleagues, and I am confident we will play a positive role in shaping the ETF market’s future development."

Along with Shastry’s appointment, Thomas Stephens, head of international ETF capital markets at JP Morgan Asset Management, has been appointed to the newly created role of deputy chairman.

The ETF committee was formed in late 2016 to discuss key issues related to the ecosystem such as regulation and market structure.

Since the ETF committee was created, the IA made the decision to include ETFs in its 37 sectors in May 2019 following consultation with the investment industry.

However, the inclusion, which was scheduled for Q1 this year, was delayed in January following a greater of interest from ETF providers “than expected”.

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