Vanguard has hired a senior ETF capital markets specialist for Europe from State Street Global Advisors (SSgA). 

Paul Young will report to Thomas Bartolacci, head of ETF capital markets, Europe and will be responsible for supporting the liquidity of the company's products and client care.

He most recently worked as head of ETF capital markets, EMEA at SSgA, which he joined back in 2007. He previously worked at St James's Place and Morgan Stanley Investment Management. 

Vanguard, which manages $5.1 trillion globally (£3.9 trillion), while the European arm has over $175 billion in assets under management. 

Its head of distribution in Europe ex-UK Thomas Merz said: 'Paul’s experience and knowledge will not only help our team ensure clients get the best possible trading experience, but also continue to achieve the lowest possible trading costs, when buying and selling ETFs.'

Earlier this month, Vanguard was chosen over State Street to run a £600 million mandate for LV=. 

John Perks, LV=’s managing director of life pensions, said while State Street was providing good funds for the mandate Vanguard is offering a more ‘competitively priced’ offer.