SWEDEN - International Asset Management (IAM), the fund of hedge fund manager previously owned by ABN Amro Asset Management, has opened a branch in Stockholm - its first office in continental Europe.

The London-based IAM, which also has an office in New York, said in a statement today Henric Malmqvist has been appointed director for the new Stockholm office, aimed at increasing the firm's reach and audience.

Malmqvist joins IAM from ABN Amro Asset Management, where he worked in institutional sales as a product specialist in alternatives.

The manager regained its independence in July this year, after IAM's management bought the company from Belgian-Dutch bancassurer Fortis, which had taken IAM on when it bought ABN Amro Asset Management last summer. (See earlier IPE story: ‘IAM buyout brings solvency relief to Fortis')

IAM undertook a 100% MBO and its ownership now rests with "a broad group of employees", backed by two new external shareholders in the form of Sir Ronald Cohen, co-founder of Apax Partners, and investment bank Jeffries Group.

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