News & Analysis

Unigestion backs London, doubles UK head count

The asset manager is undeterred by the UK’s vote to leave the EU and has moved its expanding team into a new London office.

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Switzerland-headquartered asset manager Unigestion has moved its London-based staff into a new office to accommodate its growing team.

The asset manager’s private equity team, which invests directly in mid-market businesses as well as making primary and secondary fund commitments, will be part of the office move, a spokeswoman for the firm told pfm.

The private equity team in London includes former Veronis Suhler Stevenson dealmaker Pieter-Jan Frederix who focuses on direct investments.

The office remains in London’s West End, but has moved from Piccadilly to Stratford Place, just North of Bond Street.

Unigestion’s London team has increased from 25 to 40 people since the beginning of 2016 and the UK has become the firm’s largest market outside of Switzerland, the firm said.

“The expansion of our London team is a reflection of our commitment to the UK market, where we have had a presence for 16 years,” Fiona Frick, chief executive officer of Unigestion said in the statement. “We set ourselves this target of doubling our headcount in London to 40 people this year – regardless of the outcome of the EU Referendum. London will remain a key financial hub – for Unigestion and for the international asset management industry.”

The Brexit decision has created uncertainty among the financial services industry regarding investments in UK assets as well as operations of global firms in London. Some firms, however, such as Canada-based PSP Investments and Boston-headquartered HarbourVest, have confirmed their commitment to London.

“The UK is the second largest pensions market in the world after the US by assets, and far ahead of any other single European market in size. It has a huge pool of talent and will continue to attract excellent investment professionals and be a thriving market for institutional investors and asset managers to work together to find innovative solutions for long term investment needs,” Frick added.

Unigestion also intends to further increase its UK presence and continue to build relationships across its UK client base, according to the statement.