First Eagle Investment Management, headquartered in New York, has opened an office in London with the aim of serving institutional clients and their consultants in Europe, the Middle East and Africa (EMEA).
The office, located in the City, will be led by David Townsend who joined First Eagle as head of EMEA Institutional earlier this year.
Prior to joining First Eagle, Townsend managed Martin Currie’s EMEA business and the manager’s relationships with global consultants. Before that, he held roles of head of UK Institutional Sales at AXA IM and sales director at Scottish Life International Investment group. Townsend started his career at Fidelity.
“We believe our clients in the EMEA region can best be served from an office that’s close to them in geography and time zone,” said Mehdi Mahmud, president and CEO of First Eagle Investment Management.
“London is a natural location for the office because of its established position as a centre of excellence in global financial services and its depth of resident talent in the investment management industry,” he added.
Commenting Townsend’s appointment, Douglas Meyer, head of First Eagle’s Institutional Distribution, said: “We believe that this is the right time for David to join us. Institutions in this region are showing a growing appetite for solutions like ours that combine the potential for strong returns with downside protection over full market cycles.”
First Eagle’s AuM totalled $110bn (€92.47bn) as of 30 June 2017.