The asset manager of Spain’s Grupo Mutua Madrileña is opening its first new office in Barcelona.
The move is expected to allow Mutuactivos to triple assets under management in Catalonia, from current assets of €70m to over €220m in 2020.
Barcelona is a key location for Mutuactivos’ plans of expansion an growth, due to its high potential for the funds market. The city has significant assets in investment funds and a large number of investors, said Juan Aznar, president and CEO of Mutuactivos.
“Barcelona has a large business network and one of the highest GDP per capita in the country. It’s a key city and of reference for us, as we have already consolidated customers there,” Aznar said.
The new office in Barcelona will have six team members. David García de la Torre has been appointed as head of the office and commercial director of Mutuactivos in Catalonia. He will be responsible for the consolidation and expansion of the asset manager across the region.
García de la Torre holds a degree in Economics from Navarra University and a bachelor’s degree in Business Administration from Northwestern State University. He is also a certified financial analyst from EFPA Spain.
He has more than ten years experience in wealth management. Prior to joining Mutuactivos, he worked for Deutsche Bank, Bankinter, Barclays and Caja Rural de Navarra.