WisdomTree to buy ETF Securities’ $18bn European business

HandshakeETF Securities is selling the bulk of its European business operations, excluding the ETF platform, to WisdomTree Investments.

The sale includes ETF Securities’ European exchange-traded commodity, currency and short-and-leveraged business, and accounts for $17.6bn of the firm’s assets under management.

ETF Securities will become the largest shareholder in WisdomTree and will oversee the integration.

The acquisition is set to close at the end of Q1 2018, subject to regulatory approval.

Graham Tuckwell, founder and chairman of ETF Securities, says: ““I believe this combination creates a uniquely positioned firm which will flourish in the years ahead, continuing to deliver huge value for customers and stakeholders.

“ETF Securities has a strong cultural fit with WisdomTree as both firms have been built from scratch by teams who have worked closely together for many years and who show an entrepreneurial spirit in seeking to deliver innovative and market leading products for their customers.”

Mark Weeks, UK CEO of ETF Securities, adds: “This transaction creates a leading independent global ETP provider which is well positioned to compete in the rapidly growing European ETP market. We have complementary expertise, product ranges and customer networks.”