Qontigo, the financial arm of the Deutsche Boerse, has appointed Vanguard’s head of product, Asia, Axel Lomholt as chief product officer.

In his new role, Lomholt (pictured) will be responsible for the indices and benchmarks for the STOXX and DAX portfolios and will report to chief operating officer Neal Pawar.

He spent nine years in senior management roles at Vanguard, most recently as head of product and program management for Asia, responsible for “large-scale business initiatives” across the region.

Prior to this, he served as interim CEO for Asia. Before joining the Asia business, he was head of product for international and head of ETFs for Vanguard outside of the US.

Lomholt previously spent three years at Barclays Global Investor (BGI) and three years at BlackRock in the iShares division, which acquired BGI in 2010.

During his time at BlackRock, Lomholt was head of ETF portfolio management EMEA and latterly head of product for EMEA and Asia.

In addition, he spent seven years at HSBC, most recently as head of global indexing. 

Commenting on the appointment, Pawar said: “The profound benefits of the union of indexing and quantitative analytics – the premise for the creation of Qontigo – continue to generate growing enthusiasm among clients, and we look forward to Axel driving the growth of our indexing solutions to meet the investment and sustainability goals of investors and asset owners worldwide.”