Bank of New York Mellon, which oversees about $30.6 trillion in assets, is hiring in Europe as it bulks up its exchange-traded funds business to tap into increasing investor demand for cheaper passive products.
Bloomberg News reports that the company has named Scott Coey to the newly created position of head of relationship development for hedge funds, ETF and structured products in Europe the Middle East and Africa, a spokesman said. Coey previously ran the firm’s broker dealer services in the region. The appointment follows the hiring of Jeff McCarthy from Nasdaq Inc. in January as chief executive officer of ETFs.
“We are investing significantly,” McCarthy said in by email. “Senior level appointments, like Scott’s and others to come, reflect our continuing commitment to strengthen our resources and subject-matter expertise across ETFs.”
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