Money Management

GSAM brings on managing director to launch European ETF business

Peter Thompson joined Goldman Sachs Asset Management to launch an exchange-traded funds business in Europe, a spokeswoman confirmed.

The position is new.

An announcement by the firm said Mr. Thompson is a managing director based in London. He reports to Michael Crinieri, global head of the GSAM ETF business.

The firm already has an ETF business in the U.S., launched in 2015, and more than $8 billion in assets under management.

A person familiar with the announcement said GSAM hopes to launch a European ETF in the first half of 2019, with plans for a dedicated team of ETF specialists who will partner with GSAM's distribution network.

Mr. Thompson was CEO of ETF specialist Source, which was acquired by Invesco (IVZ) last year. A spokesman was not immediately available to comment.