The new premises, located in the Waterside district of the city, will house several private client investment managers and support staff, it said in a statement.

“With extra office space now available for new recruits, we will be targeting talented individuals to join our investment management team and help drive our growth in the region,” Mike Davies, branch manager, said.

Hargreave Hale’s business in Worcester currently manages over £145 million ($221 million).

The move follows the recent opening of a new Hargreave Hale branch in York. The company operates from several locations across the UK. Since April 2013, Hargreave Hale’s funds under management have doubled to £4 billion and 40 new staff have joined the company, bringing total headcount above 200, it said.