Active investment manager Man Group has received authorisation for its local branch in Madrid, which is in the final stages of registration.
The office is being launched at a time when the asset management industry in Spain is “experiencing a period of significant growth”, the firm said.
Man Group said it has “seen increasing demand” from clients in Spain – and Iberia more broadly – for active investment management solutions in both the long-only and alternative space that “provide attractive risk-adjusted returns and portfolio diversification benefits across different asset classes”.
The investment manager has expanded its team with the appointment of Luis Martin as managing director of Iberia sales.
In the role, Martin will focus on developing and servicing relationships with leading Iberian financial institutions. With over 20 years of experience, he joins the firm from BMO Global Asset Management, where he served as regional head for southern Europe and LatAm.
The appointment strengthens the firm’s existing Iberian sales team of five dedicated professionals and includes Kyril Saxe Coburg, partner and managing director of Iberia sales based in London, and Tasio Del Castano, director of Iberia Sales, who has recently relocated from London to Madrid.
The local team, and Iberian clients, will continue to benefit from the support of Man Group’s specialist teams in London.
Paola Arce, who has been part of the team as sales director since 2011, has been appointed marketing lead with responsibility for Iberia and LatAm.
Steven Desmyter, global head of sales and marketing at Man Group, said: “There’s been an explosion of interest in actively managed investments in Spain, particularly as a result of the very challenging market backdrop this year.
“The opening of our new office, the recruitment of Luis and the relocation of Tasio represent a significant milestone in terms of our presence in the region. The collective experience of our expanded team, combined with increased proximity to the market, better enables us to work side-by-side with clients as we design solutions for them.”