PineBridge Investments, one of two financial services subsidiaries of Pacific Century Group, is opening an office in Helsinki as it seeks to boost business in the Nordic Region.
Defined as a branch office, it will be led by Tomi Långström, head of Nordic Business Development, who joined the firm in 2014 and is based in Helsinki. Other offices in the Europe, Middle East and Africa region are located in London, Cape Town, Dubai, Dublin and Zurich.
The Helsinki office has close ties to the London office, as a spokesperson explained: “We have a three-person team covering the Nordics, all of whom come from the region. Currently, Tomi Långström works from the Helsinki office with the rest of the team working from the London office, where they are close to the investment teams. As our business grows we hope to build the team to support this expansion.”
“From a business perspective, Finland, Sweden and Denmark are equally important countries for us. We chose to set up our office in Helsinki as we have strategic partnerships with clients in the region.”
Having an office in the region is seen as an important factor in developing “better and more frequent client interaction”, the spokesperson said.
In a statement accompanying the office announcement, Klaus Schuster, head of Europe PineBridge noted that the manager had been active in the region for a long time and that business had grown “significantly over the past few years”.
“We are excited to have an on-the-ground presence to deepen coverage of our clients here,” he said.
“This further demonstrates the continued growth of our business across the European market as well as our focus on this important region.”
PineBridge claimed AUM of some $90.5bn (€77.5bn)as of 31 March 2018. it is a global manager offering investments in multi-asset, fixed income, equities and alternatives on behalf of clients such as institutions, insurance companies and intermediaries.
The manager is one of two financial services businesses owned by PCG; the other is insurer FWD Group, which is active across Southeast Asia. PCG also operates in technology, media and telecommunications through its PCCW and HKT businesses, and in property through Pacific Century Premium Developments.
PCG was founded in 1993 by Richard Li, using proceeds from the sale of Hong Kong-based Star TV to News Corp.