NEW YORK, July 22 (Reuters) - Deutsche Bank AG has hired three new regional vice presidents to join its U.S. distribution team focused on exchange-traded products, the company said on Tuesday.
The new additions, who joined Deutsche Asset & Wealth Management from BlackRock Inc and TS Capital LLC, are part of a broader expansion effort as Deutsche looks to build out its ETP footprint in the United States.
“We’re in an aggressive buildout mode, and part of that is making sure that each of the pillars is well-staffed and operating with the right level of support,” Deutsche’s head of passive business in the Americas, Fiona Bassett, said in an interview.
Among the new hires, Steve Dunn joined as an ETF regional vice president covering ETF strategists for national accounts. He was formerly a director for BlackRock’s iShares sales and distribution strategy team and has spent nearly 15 years covering exchange-traded funds.
Lisa Poniewaz, also formerly with BlackRock, joined Deutsche to cover the Texas region as an ETF regional vice president. She was formerly with BlackRock’s iShares business development group.
Deutsche also said it hired Brian Szitanko as an ETF regional vice president covering the Great Lakes region. He was previously a regional director at TS Capital, and also previously spent nearly 15 years as a wholesaler for Legg Mason Global Asset Management and Citigroup Asset Management.
The three new hires joined Deutsche’s passive distribution team in the Americas, headed by Mick McLaughlin. Deutsche has been focusing on expanding its ETP market share in the United States by increasing its product distribution. In June, the company also announced that it hired four ETF regional vice presidents to cover the west coast region.
Deutsche’s ETP platform in the United States currently includes 64 exchange-traded products, with roughly $11 billion in assets under management. The firm’s ETP platform globally has about $63 billion in assets under management. (Reporting by Ashley Lau in New York; Editing by Tom Brown)