Iowa-based asset manager Principal Global Investors has expanded its European operations with the opening of an office in Zürich.
The new office brings to four the number of offices that Principal has in Europe, with existing offices in London, Amsterdam and Munich.
The Zürich office will be headed by Martin Bloch who has been appointed country head and will lead Principal’s development in the Swiss market.
Bloch has almost three decades of experience in the asset management industry and joins Principal from Robeco where he served as country manager and head of sales in Switzerland.
Bloch previously worked as managing director and founder of CPP Constant Portfolio Protection AG and has also worked in leadership roles at Merrill Lynch International and Banca Della Svizzera Italiana.
Nick Lyster, Principal’s global head of wealth advisory services, said: “We have seen a significant increase in demand for our funds and our sub-advisory services from wealth managers in the region requiring the adaptability that our multi-boutique model provides.
“The new office comes at a time when regional players are looking to increase their advisory services capabilities partnering with global managers who are able to offer a distinct set of products that can provide returns for their clients.”
Principal Global Investors has $411.1 billion (€383 billion) in assets under management of which $17.6 billion is managed on behalf of European investors.
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