WisdomTree has announced that it has bought the outstanding 25% share in the European exchange traded platform as it looks to continue growing in Europe. The buyout follows the US provider’s initial 75% purchase in January 2014, and entry to the European market, with the obligation to buy out the remaining minority investment within four years.  The move will see Boost ETP’s founders, Hector McNeil and Nik Bienkowski leave.

Hector McNeil (left) and Nik Bienkowski, Co-CEOs of Boost, said: “WisdomTree is a truly innovative and dynamic ETF manager with a bright future.”

The WisdomTree Europe platform now has around $940 million in assets under management, a 1,780% increase from its initial base of $50 million in 2014. WisdomTree ETFs and Boost ETPs are listed across the U.K., Germany, Ireland, Italy and Switzerland.

David Abner will relocate to London in August and take over from McNeil and Bienkowski. Abner has been with WisdomTree for eight years and is currently head of capital markets.

The Company will take a charge of approximately $6.0 million, or $0.04 per diluted share, in the second quarter to reflect the purchase of the remaining 25% stake and other related expenses.

Jonathan Steinberg, WisdomTree President and CEO, said in a statement: “We are fortunate to have built a strong foundation for growth in Europe through the efforts of Hector McNeil and Nik Bienkowski whose contributions led to the efficient build out of our platform throughout Europe.  Over the course of just two years they assembled the team, the products and the infrastructure necessary for success in the competitive, fast-growing European ETP market.”

McNeil and Bienkowski jointly stated, “It has been a pleasure to be a part of WisdomTree’s important work in the European market.  WisdomTree is a truly innovative and dynamic ETF manager with a bright future. We have greatly enjoyed our time here and wish everyone involved the best of luck for the future. ”