Legal & General Investment Management (LGIM) is opening an office in Sweden in a move aimed at strengthening its presence in the region.
It will be the first physical location for the asset manager in the Nordics, which is already one of its key markets.
LGIM, which has €1.4trn of assets under management, will continue to offer its range of active and passive investment solutions to wholesale and institutional clients across Sweden, Denmark, Finland and Norway.
Healthy competition
The decision follows similar moves by other firms to firmly plant their feet on Nordic soil.
In January, Neuberger Berman also put down roots in Stockholm, while global asset manager Nuveen expanded its existing regional presence by opening an office in Copenhagen in October last year.
Interest in the region is hardly a new trend, however, with BNY Mellon setting up in the Swedish capital in November 2018.
Leadership structure
The LGIM Stockholm office will be led by Anders Arjes, who joined the firm on 6 May as head of Nordics institutional.
He was most recently director in institutional equity sales at Deutsche Bank, having previously been an account manager in institutional equity sales at Credit Agricole Cheuvreux Nordic.
He also worked as head of global equities at the fourth Swedish national pension fund (AP4), where he was also a member of the executive management committee.
In his new role, Arjes will be supported by a dedicated sales function for the Nordic region and will report to the head of Europe institutional, Volker Kurr.
Kurr commented: “With his deep knowledge of the Nordic institutional and wholesale markets, as well as extensive sales and portfolio management experience, [Arjes] will be an invaluable asset for our ambition in the region.”
