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.