Pimco Deutschland GmbH holds a Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) license for portfolio management, investment consultancy, contracting and investment brokerage and will be led by managing directors Craig Dawson and Andrew Bosomworth. The new company manages more than €200bn of assets, mainly for institutional clients.
Dawson said: “We have established Pimco Deutschland to better enable us to deliver our German clients the highest quality portfolio management and client servicing. In addition, this step facilitates further our evolution as a complete provider of global investment solutions across asset classes to our clients in Germany.”
Pimco first established a presence in Europe in 1997 and has been operating in Germany since 2000. Prior to the establishment of the new company, Pimco said it had strengthened its client servicing capabilities in recent months, adding new staff to its account management team in Germany and Austria. Currently, 160 employees work in Pimco’s Germany based operations in Munich, with 47 in portfolio management and 32 in client servicing.
International Adviser’s sister publication, Portfolio Adviser is also this morning reporting that the company is “beefing up” its presence in the UK retail space, with the launch of a multi-asset fund for St James’s Place and a planned listing of the same strategy on the Fidelity FundsNetwork.