A U.S. fund giant is opening its first Swiss representative office in Zurich. A former Credit Suisse banker is in charge of the Swiss business.
With the opening of its first office in Switzerland, PGIM Investments is expanding its presence in Europe. The U.S. funds business has more than $1 trillion in assets under management and belongs to Prudential Financial, which is also based in the U.S.
Pascal Weber has been put in charge of the offices in Zurich and will start developing the business with banks and financial intermediaries. He will receive the full support of the company, which aims to firmly establish the business in Switzerland.
Weber joined PGIM Investments from U.S. rival Alliance Bernstein, where he was responsible for the distribution to financial intermediaries in Switzerland. He previously advised institutional investors at Credit Suisse.
European Growth Plans
Weber will report to Thiemo Volkholz, the head of the team responsible for Germany and Austria. Volkholz is based in Frankfurt and is now in charge of the three German-speaking countries in Europe. His team was established in 2018.
Kimberly LaPointe, the head of international distribution at PGIM Investments, soon will relocate from the U.S. to London to add further impetus to the global expansion of the company. The U.S. funds giant wants to grow strongly in Europe.
