The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

BGI wins the ETF round

The exchange traded fund market is an area in which Barclays Global Investors can lay solid claim to being more successful than State Street Global Advisers. BGI has built up its ETF business (iShares) in five years to a level of $178 billion, compared with SSgA’s $80 billion.

In theory, this shouldn’t have been the case. SSgA developed and launched the ETF market with the American Stock Exchange in 1993 with the Standard and Poor’s Depositary Receipt (the Spider), the first and still the largest ETF, with assets of $47 billion. Given the significant headstart, the 47% share of the ETF market today ought to be SSgA’s, not BGI’s.

The way BGI handled the launch and development of its iShares products clearly indicates the new aggressive mood that has taken hold of the once sleepy manager, and is surely accountable for its success in the area.

BGI knew it needed to extend its customer reach to retail clients. “At first we thought we needed a mutual fund company, but knew we didn’t have any expertise in this area and would have had to hire a huge sales force,” says Chris Sutton, CEO iShares Europe & Asia ex-Japan.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree