Exchange traded fund (ETF) provider BetaShares will open a new office in Auckland, New Zealand, with Thom Bentley being hired as director of adviser and institutional business.
Bentley had over 30 years’ financial services experience and was most recently at New Zealand’s only ETF manager, Smartshares, where he was responsible for institutional business.
He had also worked for Remarkable Capital, Nomura Asset Management, Macquarie and Scottish Widows.
Alex Vynokur, BetaShares chief executive, said: “Since the launch of our first product over a decade ago, we have established ourselves as a leader in the Australian ETF industry. Over the years, we have developed a number of long-standing relationships with institutions and advisers in New Zealand, which we have to date serviced out of our Australian offices.
“We are now excited to deepen our presence in the New Zealand market via a local office, which will help us to better service the needs of New Zealand investors with our extensive range of intelligent investment solutions.”
BetaShares had seen funds under management (FUM) grow from around $10 billion at the start of 2020 to $17 billion at the end of April 2021.
Bentley said: “BetaShares have built a reputation as a leading, innovative ETF manager in Australia, and have been involved in New Zealand since their inception. I am thrilled to be part of this next phase of the business’s development as we aim to further extend the Firm’s presence in this market”.