Threadneedle Investments is increasing its presence across continental Europe through the opening of...
Threadneedle Investments is increasing its presence across continental Europe through the opening of two new offices and appointing country heads for Germany and the Nordic region.
Christian Pellis, head of European distribution of Threadneedle, says it is opening an office in Sweden and a second office in Switzerland as it seeks to expand its client base across the continent.
Threadneedle has grown its business in continental Europe through distributing a UK-based Oeic. It first opened an office in Frankfurt and complemented this two years ago by establishing a physical presence in Geneva and Paris.
"We have been analysing how we take Threadneedle to the next step from here and expand the continental European business over the next three to five years," said Pellis.
Pellis said Threadneedle has recruited Rainer Schroeder from Invesco, where he spent eight years, to head the Frankfurt office with responsibility for the German and Austrian markets. Following the departure of Matthias Glas, Pellis had been overseeing the German speaking markets.
To expand its presence in the German speaking part of Switzerland, Pellis said Threadneedle is to open an office in Zurich to add to its presence in Geneva. The office will mainly target private banks and wealth managers based in Zurich.
Threadneedle will also appoint a head of the Nordic region, which is a new position for the asset manager, and open an office in Stockholm in August. Pellis is optimistic about sales opportunities in the Nordic markets particularly for its global equities funds as well as European, European Small Cap and Latin American equity funds.
The other fund that has sold well in the continent is the European high yield fund. "Demand for US equity funds has also picked up. Hedge funds have sold especially well in Switzerland. We have also seen strong demand for the Pan Euro- pean Accelerando fund." The Threadneedle Pan European Accelerando fund, which is managed by Phil Cliff, invests in European equities, UK equities, cash and derivatives.
The expansion in continental Europe follows Thread- needle's recent recruitment of Keith White as head of the Middle East.
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