WisdomTree, the US-based exchange traded fund provider with around $44bn in assets in Europe, is to cut eight roles as it prepares to take over a significant chunk of a rival's business.
WisdomTree announced in November it would acquire London-based ETF Securities’ European commodities, currencies and short and leveraged exchange traded products unit — a business that manages $17.6bn in assets. WisdomTree is paying $611m for the division.
