OppenheimerFunds, a US-based asset manager, has launched new headquarters for its EMEA operations in London in a bid to expand the distribution of its investment strategies.

The new office will be headed by OppenheimerFunds head of EMEA Doug Stewart. He will oversee firm’s operations in the region and will be responsible for OppenheimerFunds’ capabilities across markets.

Stewart will be working with Dicken Watson, who was recently appointed as the firm’s COO for EMEA.

Watson will be based in London and will report to Stewart. He will spearhead operational and compliance-related activities across EMEA. Watson joins from Affiliated Managers Group, where he served as the director of compliance and senior counsel.

OppenheimerFunds chairman and CEO Art Steinmetz said: “Building out our office in London, a global financial center, is a critical component of our international strategy. Having a local presence enhances our capabilities to reach our growing EMEA client base and provides access to our flagship strategies.”

OppenheimerFunds reported over $243bn in assets under management at the end of September 2017. Last year, the firm rolled out OppenheimerFunds ICAV, an Ireland-based UCITS platform and its sub-funds.