BetaShares hires institutional executive from BlackRock

BetaShares has hired an executive from BlackRock's institutional sales team to fill a newly-created role.

Dan Annan is joining the $5.6 billion exchange-traded product manager in the newly-created role of director - institutional business.

He was one of the six new appointments at BlackRock Australia when it combined its institutional and retail distribution teams in November, 2016.

At the time, he moved to Australia from the US to join the iShares distribution team here. Prior to this, he worked in various roles at BlackRock US, including the iShares private wealth management and capital markets.

In his new role, Annan will be responsible for leading BetaShares' activities with institutional investors.

He will work closely with BetaShares distribution co-heads Peter Harper and Vinnie Wadhera.

BetaShares chief executive Alex Vynokur said the manager is positioning itself to meet institutional demand for ETFs which it expects to continue to grow over the years.

"We are thrilled to have Dan leading our institutional strategy", Vynokur said.

"The industry is maturing rapidly in Australia, with institutions using ASX-traded ETFs increasingly frequently for a range of portfolio applications. We are confident that such institutional usage will only continue to grow over time, and we are positioning ourselves to meet the demand."

As of March end, BetaShares was the fourth-largest ETP manager in Australia, according to Rainmaker data

It has among the highest number of ETF products in the market, launching four new products so far this year.

Read more: BetaSharesBlackRockETFiSharesAlex VynokurDan AnnanPeter HarperVinnie Wadhera
Link to something kAuNcghm