Hermes Investment Management has established offices in Germany and Denmark as part of its growth strategy in continental Europe.

The Frankfurt location will be headed by director of business development for Austria and Germany Antonis Maggoutas.

The Copenhagen branch will be led by director of business development for the Nordic region Magnus Kristensen.

Hermes head of business development Harriet Steel said: “Hermes now serves more than 600 clients and is an internationally recognised organisation, with a reputation for doing business the right way.

“Because we have built a strong institutional and wholesale client base in Europe, the establishment of our Frankfurt and Copenhagen offices is the next logical step for Hermes.

“By building a presence on the ground in continental Europe, we will be able to extend the reach of our product offering, client service and stewardship and engagement services.”

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The expansion comes shortly after Hermes’ announcement to set up an Irish subsidiary in Brexit contingency planning.

The Irish business will be led by Carol Mahon and Aoifinn Devitt, who will serve as head of Ireland and head of investment-Ireland, respectively.

Hermes also has offices in London, which serves as its base, along with Singapore and New York. The business manages €37.3bn in assets.