The US-based firm has kicked off the start of a major drive to expand its investment offerings in Europe, Middle East and Africa.
US-based global asset manager, OppenheimerFunds, has opened up an office in London which will act as its headquarters for Europe, the Middle East and Africa (EMEA), giving the firm an opportunity to expand the distribution of its investment strategies across the region.
Operations will be led by Doug Stewart, head of EMEA, and Dicken Watson, recently hired by Stewart as chief operating officer for EMEA. Watson will lead operational and compliance-related activities throughout the region, the firm said in a statement.
“Building out our office in London, a global financial centre, is a critical component of our international strategy," said Art Steinmetz, chairman and chief executive of OppenheimerFunds. "Having a local presence enhances our capabilities to reach our growing EMEA client base and provides access to our flagship strategies."
The firm has also said that it is also expanding in the US and Australia. Paul Eisenhardt, head of international distribution in the Americas and Australia, will continue to lead distribution activities with US-based non-resident investors at OFI Global, a subsidiary of OppenheimerFunds, as well as developing client relationships in Australia.
OppenheimerFunds manages more than $243 billion in assets. The firm has a growing number of UCITS offerings, and recently added the Oppenheimer Emerging Markets Local Debt UCITS Fund to its suite.