EUROPE - Fortis Investment Management (FIM) - the investment arm of EUR34bn Fortis AG - is to start eyeing possible European distribution partners.
The firm, which has EUR313bn in assets under management, is being advised by McKinsey & Company on potential agreements in the Benelux region, France, Spain and Italy.
Currently, FIM holds a European presence in Utrecht, Brussels, and Paris. Outside the Continent the firm has opened offices in Hong Kong, Boston and more recently in Shanghai.
The long-awaited move follows the appointment of new CEO Richard Wohanka.
Wohanka joined FIM from WestLB Asset Management where he has served as CEO since 1998. In 1983 he joined Banque Paribas as head of fixed income and equity new issues, and went on to become head of Paribas Asset Management. Wohanka then joined Baring Asset Management in 1996 and became CEO of the institutional and mutual fund division one year later.
At WestLB he will be succeeded by Luke Nunneley.
By Madhu Kalia
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