Fidelity International has named Elisa Prezzavento as director of ETF product strategy and development, a move that signals the firm's deepening commitment to the active ETF market in Europe and Asia-Pacific. Prezzavento joins from State Street Investment Management, where she most recently led EMEA fixed-income product innovation.
Strategic Hire in a Growing Market
Based in London, Prezzavento will oversee product strategy, develop new active ETF concepts, and align offerings with client demand. Neil Davies, head of ETF product and capital markets for Europe and Asia-Pacific at Fidelity, described the ETF landscape as 'evolving at pace' and emphasized that investors are seeking more targeted, active investment vehicles. He noted that Prezzavento's deep expertise in ETF product development will be instrumental as the team broadens its lineup.
Active ETF Momentum in Europe
According to Morningstar, Europe-domiciled active ETF assets reached €85.6 billion as of March 31, up from €78.8 billion at the end of 2025. Despite this growth, active ETFs still represent only 3.1% of the region's total ETF market, underscoring substantial room for expansion. Fidelity currently ranks as Europe's second-largest active ETF provider, managing $11.3 billion in active ETF assets and $15.8 billion in total ETF assets across 25 products spanning active equity, fixed income, and differentiated index strategies.
Competitive Landscape Shifts
The competitive dynamics in Europe's active ETF space are evolving. JPMorgan Asset Management remains the market leader, while BlackRock's iShares has moved ahead of Pimco to claim third place, according to Morningstar data cited by Funds Europe. The first quarter of 2026 saw 36 new active ETFs launch in Europe, with no closures, reflecting robust product development activity.
Fidelity's Product Expansion
Fidelity has been actively expanding its ETF shelf. In January, the firm launched two active corporate bond ETFs targeting European investors, focusing on U.S. and euro investment-grade corporate bond markets as part of its Research Enhanced ETF range. Prezzavento's appointment follows a series of hires aimed at strengthening the firm's product strategy capabilities.
Market Challenges and Opportunities
Natalia Wolfstetter, senior principal for manager research at Morningstar, noted that while Europe's active ETF market remains much smaller than the U.S., it is changing rapidly. She pointed to the emergence of systematic, rules-based equity ETFs that rely less on day-to-day manager decisions. However, active ETFs must still prove their value on performance, pricing, and liquidity relative to low-cost passive funds. Larger competitors and new entrants are also vying for market share in this growth space.
Prezzavento's Background
Prezzavento brings extensive experience from State Street, where she led fixed-income product innovation in EMEA. She has also held senior ETF product development and strategy roles across EMEA and Asia-Pacific, and spent nearly 14 years at ICE Data Indices. Her arrival is seen as a boost to Fidelity's efforts to capture a larger slice of the active ETF market.
