Federated Hermes’s has added one more European location following a string of office openings that started after the firm’s formation in 2018.
The asset manager’s new Spanish office in Mardrid adds to offices opened in Germany and Denmark in 2019.
Carlos Capela, who joined Federated Hermes last year, heads the push into Spain, Portugal and Andorra as Iberia business development director.
Federated Hermes was started after US-based Federated Investors bought a 60% stake in the UK’s Hermes Investment Management.
In 2019, the firm also established an Ireland-domiciled management company, Hermes Fund Managers Ireland Limited, as part of its Brexit plan. There are now 16 employees across the European offices outside the UK.
Harriet Steel heads the firm’s international business development and said opening in Spain was a “natural next step … given our strong institutional and wholesale client base in the region”.
The firm has $628.8 billion in assets under management, as of June 30.
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