Hermes continues push into Europe with Copenhagen and Frankfurt expansion

Asset manager established Irish-based management firm in January as part of Brexit contingency plans.

Hermes Investment Management has announced the formation of two new offices in mainland Europe.

The new offices in Copenhagen and Frankfurt are part of the €37.3 billion asset manager’s strategic growth plan for its presence in Continental Europe.

Antonis Maggoutas, director of business development for Austria and Germany will be based in the Frankfurt office, and Magnus Kristensen, director of business development for the Nordic Region, will head the Copenhagen office.

“We have delivered consistently high risk adjusted alpha and become one of the fastest growing asset management businesses in London. Hermes now serves more than 600 clients and is an internationally recognised organisation, with a reputation for doing business the right way,” said Harriet Steel, head of business development at Hermes.

“Because we have built a strong institutional and wholesale client base in Europe, the establishment of our Frankfurt and Copenhagen offices is the next logical step for Hermes. By building a presence on the ground in continental Europe, we will be able to extend the reach of our product offering, client service and stewardship and engagement services.”

In January Hermes announced it had established a new Irish management firm in order to ‘mitigate Brexit risk’.

Hermes Fund Managers Ireland (HFM Ireland) will be led by new appointments Carol Mahon and Aoifinn Devitt as head of Ireland and head of investment Ireland, respectively, and will be based in Dublin.