Brexit uncertainty has lead Wells Fargo Asset Management (Luxembourg) to open branches in Frankfurt and Paris to provide discretionary portfolio management and investment advisory services to its European institutional investors.
The expansion of the asset manager’s existing license has been approved by Luxembourg’s financial regulator, Commission de Surveillance du Secteur Financier (CSSF).
Wells Fargo Asset Management head of international distribution, Deirdre Flood, said the expansion would deepen relationships with European clients and investors based in other international markets.
“With the prevailing uncertainty around Brexit, this small but meaningful change to our current structure will ensure continued service for all of our existing European Union clients and will facilitate the future development of WFAM in this key market,” she said.
The firm’s London presence will continue to serve its UK and international clients and it’s WFAM Credit Europe and WFAM Global Fixed Income will continue to maintain operations from the London office.
Many global asset managers with London operations have begun revising their distribution strategies to ensure continued access to the EU as Brexit looms. To see what some have decided to to do please click on the link: https://expertinvestoreurope.com/the-great-migration/