Colonial First State eyes Germany in bid for Europe

Colonial First State Global Asset Management (CFSGAM) has pushed further into continental Europe, opening an office in Frankfurt am Main and appointing a new sales manager.

CFSGAM funds have been available through most large banks via First State Investments, its international arm, which has had a presence in the German marketplace since 2001.

Mark Lazberger, CFSGAM's chief executive officer, said it was trying to build its institutional client base by demonstrating a long-term commitment and increasing resources in the region.

"A key component of our business strategy is the continued expansion of our investment and distribution capabilities globally," he said.

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CFSGAM also opened an office in Paris earlier this year.

Lazberger said the company would focus on building its institutional client base in Germany, particularly its emerging market debt capabilities. The emerging markets debt team was established last year and is led by Helene Williamson.

In April, CFSGAM appointed David Gaschik to the position of sales manager for Germany, reporting to Europe sales director Marc Bishop.

Gaschik joins CFSGAM after 10 years with UBS under UBS Global Asset Management and UBS Wealth Asset Management, Germany. He held positions including head of wealth management division and head of private banking clients.