New Star Asset Management, the UK-based fund manager led by Jupiter Asset Management founder, John Duffield, has opened an office in Madrid ...

New Star Asset Management, the UK-based fund manager led by Jupiter Asset Management founder, John Duffield, has opened an office in Madrid with a view to growing its business in Spain. Mauro Lorán García, the newly appointed regional director for Iberia, will head up the new Spanish operation. Mr Lorán was previously the managing director for ABN Amro Asset Management in Spain, where he was responsible for third-party fund distribution, institutional sales and relations. He also worked at ABN Amro Asset Management head office in Amsterdam, where he was responsible for developing the institutional business in Portugal and Latin America. Mr Lorán said he believes there will be strong demand for New Star’s funds among Spanish institutional investors and private banking clients. New Star has filed a range of investment products with Spain’s Securities Market Commission, comprised of sub-funds of the Irish-domiciled, New Star Global Investment Funds. Just over a week ago, New Star appointed Ghislaine Fournigault senior business development manager for France. New Star has a presence in London, Dublin, Bermuda, Hong Kong and Zurich and currently employs more than 290 people.