Why does NTree exist?

After many years of ETF sales experience, Tim Harvey realised that many international fund managers were having difficulty raising AUMs in Europe. There were many reasons for this.

Firstly, a lot of them tried to simply copy products from their home market and launch them in Europe. They did not have the contacts to understand what kind of products European asset managers needed.

Secondly, due to exchange rates and foreign index construction costs, the spreads on their European products were wide. Another issue of networking in the marketplace and finding the right market-maker to trade their products.

Thirdly, and most importantly, they did not have any connections to distribute their products. They did not have an established network to educate local asset managers on investment opportunities abroad.

Tim realised that Europe needed a pure education, advisory, and distribution service that catered to international asset managers. So NTree was born in 2017!

We exist purely to connect international asset managers to European investors and asset allocators. We do this by:

  • Helping international asset managers understand what products European investors are looking for: which domicile, which listing venue, which currency, which index.
  • Introducing issuers to market-makers and advising on how best to structure creation/redemption agreements.
  • Organising seminars, road shows, and conference calls to educate our vast network of contacts on our clients’ markets and products.

Primary Market Services

Hand-in-hand with our China onshore fund distribution work, NTree also assist domestic Chinese and international Private Equity managers to connect with inbound and outbound investment opportunities.  Our broad network of contacts in Europe and China help us to facilitate introductions and curate opportunities where needed.  For more information or to discuss any potential projects you may have, please contact us via the link below.

Meet the team

Tim Harvey

CEO / Founder

Tim’s ETF distribution career started as Head of German sales at ETF Securities in January 2007. There, him and his team raised over $3bn in 3 years.

He became ETFS’ head of European Sales in late 2009 and ultimately moved to New York in 2011 to help build institutional sales.

In 2013 Tim joined Velocityshares looking after ETF sales and home office relationships before moving back to Europe in 2015. Prior to starting his ETF issuing career Tim worked in sales trading for numerous US investment houses specializing in US, European or Asian single stocks.

Tim started NTree in March 2017 to help non-European based ETF asset managers access quality ETF distribution.

In his spare time Tim volunteers in London with various church homeless kitchens.

Ashwin Tirodkar


Ashwin has spent most of the past two decades working for either Goldman Sachs in Chicago and New York working on algorithmic and program trading as a strategist, or as a commodity trader for Unicredit in London.

He managed Unicredit’s commodity structured product desk from 2012 to 2017.

When not working with Ntree, Ashwin is COO of the US Alumni Club in London as well as volunteers with various education and charity related initiatives. If he ever has any spare time, he can be found rock climbing or solving sudokus and crossword puzzles!

Stephan Molzahn

Head of Distribution Solutions

Stephan started his career with Merrill Lynch in New York, followed by Deutsche Bank, Commerzbank and UniCredit in Germany, where he worked within the Private Wealth Management and Asset Management divisions. He was responsible for institutional & retail fund distribution across Europe. His last role in the space was Head of International Institutional Sales at Erste Asset Management GmbH, Austria.

After that Stephan founded his own financial advisory company, to which he added a reinsurance brokerage unit in 2014. There he partnered with a large London market maker and started distribution of its in-house managed hedge fund.

Stephan joined NTree in February 2018.

Bart Lijnse

Board Member

Started his career with Mees Pierson in 1995 before moving to Nyenburg, the leading European ETF market maker in 2000. Bart became the principle shareholder and head of trading at Nyenburg before selling the business to Virtu in 2011.

Bart joined Virtu as a senior partner and trader working in New York and Singapore.

Bart left Virtu in 2017 and has since spent his time with his family travelling the world and has become a charter member of TiE.

Alistair Gunn-Forbes

Chairman of the Board

Mr Gunn-Forbes has been associated with Asian regional stock markets since 1973 when he was a fund manager at Brown Shipley Ltd. Subsequently, he was a director of W.I Carr, Sons & Co. (Overseas) Ltd until 1985, since when he has held directorships with other Asian securities firms in the United Kingdom prior to joining the WorldSec Group in 1993 where he is now Non-Executive Chairman. Mr Gunn-Forbes is the Chairman of Opera Holdings, a recruitment company and also an Advisor to FutureBiogas, a green energy company.