Allfunds has hired Luis Berruga, former CEO of Global X, the exchange-traded fund (ETF) provider based in New York.
He will serve as a senior adviser to support strategic initiatives and product development at Allfunds, the B2B WealthTech platform for the funds industry.
The firm said it enlisted Berruga to advise on the creation of strategic partnerships within the exchange-traded products (ETP) industry as it gears up to launch its own ETP platform in 2025.
Berruga is currently the founder and managing partner of boutique investment firm and advisory business LBS Capital.
Allfunds, which has €1.4trn ($1.47trn) in assets under its wealth tech platform, said Berruga’s success in building and scaling ETF businesses, as well as his expertise in cross-border regulation and global distribution will support the firm’s growth plans.
Juan Alcaraz, CEO and founder of Allfunds, said: “With his extensive experience and industry insight, we’re excited to welcome Luis as we enter this next phase of growth.”
“His appointment reflects Allfunds’ commitment to bringing in senior, specialized talent to evolve our offerings, respond to client needs, and provide a sophisticated, best-in-class solution that enhances client performance.”
Berruga said: “I am thrilled to join Allfunds at such a pivotal moment as the company seeks to enhance and differentiate its offering with the launch of its ETP platform next year.”
“ETPs are evolving quickly, offering clients a more attractive and diversified solution to their investment portfolios.”
“I look forward to working with the team, applying my expertise to help Allfunds navigate the competitive ETP landscape and support the company as it consolidates its position as a one-stop distributor of innovative investment solutions.”
