Now that the exchange traded fund (ETF) industry is established and growing in the United States and Europe, providers are setting up shop in what could be the industry’s next hot spot: Asia.
Frank Henze will fill a newly created role as head of the SPDR family of ETFs headquartered in Hong Kong. State Street now has 12 ETFs listed across Hong Kong, Australia, Japan and Singapore, says Joanne Young for IFA Online. [ETFs For Getting Your Asia Fix.]
Murray Coleman for Barrons explains that the ex-HSBC manager will help oversee and manage business operations from Hong Kong and will help State Street gain a market presence against other competitors that have settled in Asia, such as BlackRock and Vanguard.
Deutsche Bank also has a growing presence in Asia, and is among the most active issuers of new funds there. [Emerging Market ETFs: Where To Look For Fast Growth.]
Tisha Guerrero contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.