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BetaShares opens NZ office, makes hire

The exchange traded fund provider has established its first office in Auckland, New Zealand and has appointed a director to manage its adviser and institutional business across the ditch.

The exchange-traded fund provider has established its first office in Auckland, New Zealand and has appointed a director to manage its adviser and institutional business across the ditch.

Thom Bentley is BetaShares' first New Zealand-based employee and joins from Smartshares where he was client director - institutional. He was responsible for developing strong relationships with asset consultants and institutional investors.

Prior to this, Bentley was managing director at Remarkable Capital and head of investor relations at Pie Funds Management.

He also spent time at Nomura Asset Management in the UK as vice president of sales and marketing and at Macquarie New Zealand as a business development manager.

BetaShares chief executive Alex Vynokur told Financial Standard the business has developed longstanding relationships with institutional investors and advisers in New Zealand over the years which it was managing from its Sydney office, but the time had come to establish a permanent presence.

"It makes a lot of sense for us to establish an office in New Zealand to continue expanding the New Zealand operations over time," Vynokur said.

"Bringing on board Thom Bentley, who is a veteran in the financial services industry, is a really great first step for us in terms of building out our presence in New Zealand."

In Bentley's new role, he will take over maintaining and developing existing relationships with New Zealand institutional investors and advisers. He will report directly to co-head of distribution and head of capital markets Peter Harper.

Following on from this, Vynokur said the firm will look to expand the team in New Zealand with a variety of roles in the future.

"We definitely want to continue expanding our presence in New Zealand, but we want to make sure that we take things one step at a time. We certainly have a long-term commitment to the Australian market and New Zealand market as well," he said.

Read more: AucklandBetaSharesThom BentleyAlex VynokurPeter Harper