Principal Global Investors is opening an office in Zurich and thus progressing with its European expansion. The fund house already has branches in London, Amsterdam and Munich. Its new location in Zurich will play an important role in boosting its client relationships, according to an article by ftseglobalmarkets.com.
The new office in Zurich will be headed by Martin Bloch, who was formerly country manager and head of sales in Switzerland for the sustainability specialist RobecoSAM. At Principal, Bloch will be responsible for aspects including building client relationships with financial intermediaries and institutional investors.
“The new office comes at a time when regional players are looking to increase their advisory services capabilities partnering with global managers who are able to offer a distinct set of products that can provide returns for their clients,” commented Nick Lyster, global head of Wealth Advisory Services at Principal.
Principal is headquartered in the US state of Iowa. At the end of 2016, it was managing customer assets totalling USD 411 billion – of which around USD 17.6 billion was managed on behalf of European investors.