Payden & Rygel, a US-based investment management firm, has set up a new office in Milan, Italy.
The new office will be headed by Nicolo Piotti as managing director, with responsibility for developing business relationships in Italy and continental Europe.
Piotti most recently served as the managing director and country head for Switzerland and Austria at Morgan Stanley, Zurich.
Prior to that, he also had a 14-year stint at Morgan Stanley in Italy, with responsibility for institutional and intermediary clients.
Payden & Rygel president and CEO Joan Payden said: “Payden has been serving clients in Italy for almost two decades, including a number of Italy’s supranational institutions. Our presence in Milan will help us better serve our clients and expand our business in Italy and on the continent. We are very pleased to have someone of Mr. Piotti’s experience, reputation and knowledge of the markets join our firm.”
Payden & Rygel was established in 1983, and has a diverse client base comprising pension funds, operating funds, insurers, foundations, endowments and individuals.
The firm currently oversees $120bn in assets and also has offices in Los Angeles, Boston, and London.