Michael John Lytle, the co-founder of Source, is leading a new ETF provider called Tabula Investment Management.
Lytle is the CEO of the London-based firm, which is set to launch bond funds for institutional investors such as insurance companies, pension funds, asset managers and private banks.
Prior to founding Source – which was acquired by Invesco in 2017 – Lytle was an executive director at Morgan Stanley, where he worked for 18 years in the bond sector.
Hasan Sabri, a former CEO of MyInvest and COO of MoneyFarm, will take on the role of COO at Tabula.
The firm will co-operate with HSBC, which is expected to provide support for the new company through a range of services that it typically offers to larger and more established clients.
Cian Burke, head of HSBC Securities Services, said: ‘We are pleased that Tabula has chosen HSBC as the service provider for these new ETFs.
‘HSBC is proud to partner with Tabula in what we see as an innovative approach to the market. ETFs continue to play a major role in the growth of the European investment fund industry.’
The Tabula sales team will serve DACH, the UK, Benelux, France, Ireland and Scandinavia.