UK - US asset management group T Rowe Price is increasing its presence on the European institutional marketplace following its acquisition of the 50% of the Rowe Price Fleming joint venture it did not own from Chase Fleming.

An eight-strong team has been recruited in London, mainly coming over the last few months from Dresdner’s London operations. The team is led by Thomas Pedersen, who will be managing director, institutional sales, Europe, Middle East and Africa. He has been joined by Flemming Madsen, who will be responsible for institutional sales in the Nordic countries and will be based in Copenhagen, and Stephan Matter, who will look after institutional sales and third party relationships in Europe.

Other specialists recruited are Ian Hoddy, Tim Heffer, Marie Broderick, Andi McCann and Irene McMullan.

“As T Rowe Price wants to expand further this year, we will be looking keenly for additional sales and support staff,” says Pedersen. The acquisition of Flemings by Chase has led to the US group becoming directly active for the first time in Europe, he adds.

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