Wells Fargo Asset Management has opened its third European office in Frankfurt and hired Jakob Wiggert as sales director.
Wiggert, in his new role, will oversee business development and sales throughout Germany and Austria and will focus on expanding the institutional and wholesale client base and creating sub-advisory opportunities.
The company already has offices in Paris and London. The Paris office serves clients in France, Belgium, Monaco, Luxembourg and Switzerland.
Ludger Peters, managing director, international business development of Wells Fargo Asset Management, said: "Jakob experience will be invaluable to the development and execution of Wells Fargo Asset Management’s institutional strategy in Germany, and we look forward to offering investors in Germany the right products and strategies in what is a highly competitive market.
"We believe the consistent, risk-adjusted outperformance of our specialist and autonomous investment teams, plus our market-leading approach to risk management across the business, offers institutional and retail investors a reliable, trustworthy alternative," he added.
Wells Fargo Asset Management manages more than US$490 billion in assets globally and 2 billion of assets under management for institutional and retail investors in Germany.