SWEDEN - Johan Elmquist has left his post as vice president, business development executive, Nordic region, at T. Rowe Price Global Investment Services to join Swedish securities brokerage firm Hagstromer & Qviberg (H&Q).
Elmquist resigned at the end of January and took up his new role in institutional equity sales in early February.
H&Q focuses on investment and private banking and is listed on the Swedish Stock Exchange.
Based in Stockholm, Elmquist said he would form part of a “small but dedicated” emerging markets team.
The eight-strong team will be responsible for selling emerging markets equity with a particular focus on eastern Europe but gradually expanding into China.Commenting on his departure, Elmquist said: “It was a very difficult decision. In joining [H&Q], my aim is that over time I will learn about Egypt, Turkey, China and become an emerging markets specialist.”
Formerly a KPMG investment consultant, Elmquist was appointed to head up T. Rowe’s institutional efforts in Sweden when the firm opened its Stockholm office in September last year.
Silva El Hayek, who has worked closely with Elmquist in a sales and client servicing role, will take over T. Rowe Price’s Stockholm office.She was previously the chief investment officer of the Gävleborgs Landsting pension fund.
Peter Preisler, director, head of business develpment (EMEA), said: “We thank [Elmquist] for his contribution to the company in setting up the Swedish office. Together with Silva El Hayek, he has done an excellent job in further establishing T. Rowe Price’s profile in Sweden.”
He added: “[El Hayek will spearhead business development in Sweden, with continued support from me as head of European sales. We are also recruiting a new sales and client service person to support Silva and contribute to our growth in Sweden.”
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