Schroders has opened an office in Miami to strengthen ties with the local wealth industry and expand its presence in the US offshore market.
The new office at 1221 Brickell Avenue will be Schroders' third in the US, after New York and Philadelphia, and the only one with the sole mission of targeting Miami's growing offshore wealth industry.
Two of the UK group's senior sales executives, Gonzalo Binello, head of US offshore distribution, and Nicolas Giedzinski, head of offshore discretionary and Latin America intermediary sales, have relocated from its New York base to the new Florida hub to launch the office, local media reports.
The group offers a wide range of its Luxembourg-domiciled products to the US offshore and Latin American market, including US and emerging market equity, emerging market debt and alternative investment funds.
Schroders ran $537bn in assets under management as of December 2018 and in the Americas has offices in Argentina, Brazil, Bermuda, Chile, Mexico, US and Canada.