Schroders is setting up a San Francisco office in a bid to improve its technology research and to be...
Schroders is setting up a San Francisco office in a bid to improve its technology research and to be closer to Silicon Valley, writes Leo Bland.
The investment house's head of global technology, Michael Grant, is to move to San Francisco from London, where he has been based for the last eight years, to head up the new operation.
The office, which is likely to be set up by the end of November, will initially have three staff including Grant.
Chikako Schmack, fund manager covering Japanese and Asian technology stocks for Schroders, is moving from Tokyo to the group's new US base. Jude Wilson will move from London, where she will work on marketing and administration.
Grant expects the number of staff in San Francisco to double over the next 12 months with technology fund managers and analysts being added to the team.
He said: "This is something that we have been considering for some time but the difficulty has been finding the right office space in what has been a tight office market in San Francisco. The rationale behind the move is that I found I was spending so much of my time there I might as well be living there.
"So many of the key developments in technology have been happening on the West Coast of the US and we believe that being based there can give you additional insights into the technology market."
Paul Bruns and Elaine Parkes
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