BNY Mellon Asset Management, the global asset management arm of The Bank of New York Mellon Corporation, is to open an office in Paris.

Anne-Laure Frischlander, managing director and head of BNY Mellon Asset Management’s French operations, will lead the asset management sales team of five in this office. The core focus of the team will be to service existing clients in the French region and to generate new business opportunities for the organisation.

“BNY Mellon Asset Management has worked with French institutional clients since 2005. We have been successfully operating from our European headquarters in London over four years with a view to setting up an office in France at the right time... We will continue to aim to offer our clients fully tailored investment solutions from our stable of specialised investment boutiques and we currently have a range of 25 funds across all asset classes which are registered for distribution in France,” Ms Frischlander said, in a statement.

“Our move underlines our dedication to the French market and we believe it is of crucial importance and particularly in this unprecedented economic environment to remain close to our clients and help navigate them through these turbulent times,” she added.

The firm’s multi-boutique asset management model encompasses the skills of 17 specialist investment managers. BNY Mellon already has an established presence in several European countries with offices in Spain, Italy and Switzerland. In Germany, BNY Mellon Asset Management operates through a joint venture with WestLB, WestLB Mellon Asset Management.

The Bank of New York Mellon has had a bank representative office in Paris since 1963 which also represents services in asset servicing, treasury services, corporate trust and depositary receipts.

The Bank of New York Mellon Corporation has $20.2 trillion in assets under custody and administration and $928 billion in assets under management.