The private global investment firm Payden & Rygel has opened an office in Milan aimed at boosting its presence in Europe.
The company has also appointed Nicolò Piotti as managing director of the new office – located at Corso Matteoti 1 – responsible for developing business relationships in Italy and across continental Europe.
Piotti joins Payden & Rygel from Morgan Stanley in Zurich where he was managing director and Switzerland and Austria country head. Prior to that, he spent 14 years with Morgan Stanley in Italy covering institutional and intermediary clients.
Piotti said: “Payden’s steady and impressive growth in assets and clients, closely matches market expectations. I am very pleased to join Payden’s team of top tier professionals.”
Joan Payden, president and CEO of Payden & Rygel, commented: “Payden has been serving clients in Italy for almost two decades, including a number of Italy’s supranational institutions. Our presence in Milan will help us better serve our clients and expand our business in Italy and on the continent. We are very pleased to have someone of Mr. Piotti’s experience, reputation and knowledge of the markets join our firm.”
Robin Creswell, managing principal and head of Payden’s London office, added:” Our established and growing institutional client base in Europe demands the highest levels of professionalism and engagement with those organizations. 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”.
Los Angeles-headquartered Payden & Rygel, with offices in Boston, London and Milan – has $120bn (€97.44bn) in assets under management.