The passive fund manager wants to expand in Europe after hiring from a Frankfurt-based securities trading house

US indexing giant Vanguard Group has set its sights on boosting its market share in Germany and continental Europe with its latest hire.

The Pennsylvania-based asset manager has recruited Sebastian Külps, previously head of securities at Frankfurt-based trading house Oddo Seydler Bank, to be its head of business development for Germany, according to a February 21 statement. Külps has worked for Kepler Cheuvreux, Deutsche Bank, and JP Morgan.

Vanguard hires German business head to drive growth in Europe

Samuel Agini

JP Morgan

Deutsche Bank

Moody's

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