Lyxor Asset Management, a subsidiary of France’s Societe Generale, has appointed Michael Bernstein head of North America business development.

Bernstein has been with Lyxor since 2009, most recently holding the role of head of US pensions and consultants. In his new role his main focus will be further developing Lyxor’s relationships with institutional investors, consultants, distribution partners and other asset managers. The firm is also looking to expand its local business development team to support its growth in North America.

Lyxor regards North America as a key market and has said it has strong ambitions for its continued growth in the region, having made “major breakthroughs” with some of its largest pensions, endowments, consultants and wealth management firms.

The appointment of Bernstein as head of North America business development closely follows that of Tim Soetens as director of business development for the Netherlands in July.

Soetens spent the last four years as sales director for business development covering the Benelux wholesale market at Schroders. In his new Amsterdam-based role he oversees relationships with Lyxor’s hedge fund, fund of hedge funds and quantitative clients. His appointment reflected what the firm called its “recent breakthrough in the Dutch market,” it having won large mandates in the Dutch pension fund and wholesale distribution sectors.

As of end-July, Lyxor has €74.5 billion ($93.5 billion) in assets under management and a staff of 600 across Europe, Asia and the Americas.