Capital Group opens in Milan

The US-based investment firm Capital Group has established a local branch in Milan to develop its private wealth distribution capabilities in Europe.

As part of this move, Vlasta Gregis has joined Capital Group as business development manager for Italy. She was previously at Aviva Investors for four years, and prior to that at Julius Baer.

This follows the recent appointment of Grant Leon, formerly of Aberdeen Asset Management, as head of Sales for Capital’s Private Wealth Distribution business. He will help build the team across Europe to further develop relationships with global, regional and local financial institutions.

The new Italian presence will bring Capital Group closer to its customers in the region, the firm said. One of the world’s largest and most experienced investment management companies, Capital Group established its presence in Europe in the early 1960s with an office in Geneva, under the name Capital International. It was there that the organisation created what would become the Morgan Stanley Capital International (MSCI) indices.

Stephen Gosztony, head of Distribution for Capital Group in Europe, noted: “Capital has in fact had clients in Italy for many years. Establishing a local presence here enables us to serve our clients more effectively and build long-term relationships with new clients.”

With $1.1trn of assets under management as of 31 December 2012, Capital is an independent global investment management organisation with 80 years of experience managing money for individuals and institutions.

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