Update: WisdomTree Europe makes redundancies ahead of ETF Securities deal completion

ETF Securities' ETCs head departs

WisdomTree Europe has made eight employees redundant as the group prepares to complete its acquisition of ETF Securities, which has also lost 11 members of staff.

The redundancies have been made to reflect the new strategic direction of the business, after WisdomTree Investments announced the purchase of ETF Securities' European exchange-traded commodity, currency and short-and-leveraged business for $611m in November, with the deal expected to complete by the end of Q1 2018, subject to regulatory approval. Townsend Lansing, head of exchange-traded commodities at ETF Securities, is among the staff to have left and has gone on gardening leave. From WisdomTree Europe, UK sales director Robert Dickson and European ETF strategist Nizam Hamid have l...