FRANCE - Pictet Funds is looking at opening an office in Paris, France on the back of the success of its expansion into Madrid, Spain.
The Madrid branch’s core activities – fund distribution – are supervised by Gonzalo Rengifo Abbad, responsible for Spain, Portugal and Latin America at Pictet Funds.
The Paris branch would also focus on the distribution of Pictet’s funds through third parties. The Swiss firm has had an office in London for 12 years.
Founded in 1805 in Geneva, Pictet & Cie has over E130bn of assets under management and custody. Pictet Funds is the wholly-owned mutual funds distribution arm of the Pictet Group and was established in 1997. Pictet Funds distributes over 60 investment funds with E16bn assets under management.
In addition, Fortis Investment Management (FIM) is opening a new representative office in Milan, Italy. This follows the opening of such offices in Vienna and Frankfurt in 2002.
With its Italian team, the firm is underlining its clear commitment to the Italian market. Italy forms a core element of its sales’ strategy and is seen as offering a high potential for asset management products.
As the asset manager of Fortis, FIM had E70bn of assets under management as at the end of September 2002.
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