The company, which is part of Grupo Santander’s global asset management unit, said its new office will open “in the coming weeks” and will support the distribution of its funds through Santander Bank’s retail network.
Stefan Jochum will head up the new Frankfurt branch. Jochum joined Santander AM last year from Staedel Hanseatic, where he was chief executive for Germany. He previously worked in other management positions at Axa, Winterthur and Dresdner Bank. The branch will initially employ a team of 11 people, offering investment advisory, market research and commercial support in the distribution of funds.
For the past year, Santander’s retail network in Germany has been offering six products managed by Santander AM’s global investment team: two European fixed income funds, one European equities fund and three risk profiled funds that make up the recently created Santander Select Fund range, all of which belong to its Luxembourg domiciled Sicav range.
Juan Alcaraz, Santander AM’s global CEO, said: “The new branch in Germany is part of Santander Asset Management’s strategy to grow as a global asset management company. Entering one of the largest economies in the European Union and one of the most competitive and specialized asset management industries in Europe enhances our position in the region.”