LUXEMBOURG - Aberdeen Asset Management has opened an institutional business development and client servicing office in Luxembourg.
Nigel Storer, who has been with Aberdeen since 1999, will head the office, joined by Thomas Body, institutional business development manager. Body previously worked at Norddeutsche Landesbank Luxembourg, where he was part of the discretionary portfolio management team with special responsibility for fund selection.
A team of three multi-lingual, institutional client servicing professionals will support Storer and Body.
Commenting on the opening, Michel Alofs, head of European business development at Aberdeen, said: "Overall the group is much larger today... it suddenly looked anomalous that we weren't better established at the heart of Europe in Luxembourg."
Aberdeen, which opened a French office in March, announced in September it had embarked on a partnership with Paris-based investment management company L'Etoille Properties with the intention of giving its clients better access to French property investment opportunities.
Aberdeen opened a Tokyo office in September to take advantage of what it saw as a bouyant market with potential both on the investment and institutional client side.
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