Capital Group, a US-based investment firm, has opened a new branch in Milan with the aim of developing its private wealth distribution capabilities in Europe.
As part of this move, Capital Group appointed Vlasta Gregis as business development manager for Italy. Gregis was previously at Aviva Investors for four years, and prior to that at Julius Baer.
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This follows the recent appointment of Grant Leon, formerly of Aberdeen Asset Management, as head of sales for Capital’s Private Wealth Distribution business.
Capital Group’s head of distribution in Europe, Stephen Gosztony, said: "Capital has in fact had clients in Italy for many years. Establishing a local presence here enables us to serve our clients more effectively and build long-term relationships with new clients."
Capital Group had US$1.1 trillion of assets under management as of 31 December 2012.
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