Deutsche Bank has named a new sales head for its exchange traded funds service.

Nick Shellard has been appointed UK head of ETF sales and joins Deutsche Bank from iShares, the ETF business owned by Barclays Global Investors, where he was head of sales for the UK and Switzerland.

“The UK is a strategically important growth market for ETFs. With initiatives such as the Retail Distribution Review approaching, there is a real opportunity for ETFs to become a mainstream retail investment product. Demand from institutional investors remains high due to their continued deployment as a low-cost, flexible and liquid tool within overall investment strategies,” said Tim Hart, co-head of equity sales for Europe.