Source, the UK-based exchange-traded funds provider, has hired a former executive from BlackRock’s iShares business to become its head of European capital markets, as it seeks to expand following a capital injection from a private equity firm.

Jürgen Blumberg has joined the firm in "a new position taking advantage of the funds made available through the arrival of Warburg Pincus as a shareholder", according to Source chief development officer Michael John Lytle.