Vanguard hires for European expansion
Vanguard is to recruit extra staff to support expanding business in Europe with London as the European hub.
The investment management company, has about 50 staff in London and has been present in Europe for about a decade though European operations were recently consolidated in London. “We’re definitely planning to add [more staff],” Daniel Wallick, a principal in Vanguard Investment Strategy Group, said in an interview today (9 May).
The core functions for the firm in Europe will be in the UK including trading and investment strategy work.
The decision to expand in Europe reflects the firm’s desire to be close to its clients. “We think it’s increasingly important to understand the perspectives of [investors in] Europe, Asia and the US. It’s important for us to be here, to understand those clients better and to figure out what products are more valuable,” he said.
The European strategy is based on the firm’s experience in the US where it has grown from a predominantly retail based business into a diversified business including institutional investors. “We think that as the world globalises there is an opportunity to deliver that in the UK and Europe as well,” Wallick said.