US - Scottish Widows Investment Partnership (SWIP) has doubled its sales presence in the US with the recruitment of Deborah LaBerge as head of US sales - eastern region.
According to Chris Walker, managing director of SWIP’s international division, SWIP was lured to the US for two main reasons: “First, the size and scale of the US pension market represents a significant market opportunity for SWIP to build its international business. Secondly, the changes in the investment strategies followed by pension funds in the US market has seen a trend towards allocating a growing proportion of their funds to global emerging markets.”
He added: “This is an area where we have significant expertise and a good five-year track record.”
SWIP took its first step into US territory three months ago when it hired Dan Mueller as head of US sales - western region. Although it has not secured any mandates as yet, Walker said he was “pleased” with the progress being made in the western region where SWIP was “on the radar screen of the consultants”.
LaBerge has been recruited to develop business across all institutional sectors in the new England, mid-western, south eastern and mid-atlantic regions. Her prior experience includes positions as managing director and head of institutional sales and consultant relations with Zurich Scudder Investments and US Trust.
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