US funds house Payden & Rygel has opened its first office in continental Europe, in Milan, which it says will be used to expand the firm’s business in Italy and the continent.
The Los Angeles-based firm manages some US$120 billion (€97 billion) of assets, primarily in fixed income portfolios for a range of supranational, national, corporate, pension fund and insurance clients.
The Italian funds market has had a strong past couple of years, with Amundi and Eurizon recently reporting healthy inflows.
Robin Creswell, head of Payden’s London subsidiary, said: “Our presence in Milan and the addition of key people to that office continues our practice of building resources to work most closely with our clients”.
Nicoló Piotti, who joined the firm in September 2017, has been named managing director.
Piotti previously worked at Morgan Stanley’s Zurich office, where he was a managing director as well as country head for Switzerland and Austria.
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