- 3 min
Paris, 14 February 2008:
Considering the importance of the Australian market and the development of its local client base, Crédit Agricole Asset Management Group (CAAM Group) has decided to enhance its presence in this country. After opening a representative office in Sydney in early 2007, CAAM Group has created a wholly owned subsidiary: Crédit Agricole Asset Management Australia Ltd (CAAM Australia).
The launch of CAAM Australia underlines the Group's commitment to Australia and New Zealand and its confidence in the local asset management industry. Over the past year, local AUM have grown to just under A$1.2 billion (€726m).
CAAM Group also announces the appointment in Australia of John Maragiannis who assumes the role of Director of Distribution, joining from Crédit Suisse Asset Management (CSAM) where he was head of Institutional Sales until March 2006. Prior to this he ran the institutional sales function for Schroder Investment Management.
Reporting to country head Richard Borysiewicz, Maragiannis will be responsible for new client sales and relationships in institutional and retail markets and developing the investment infrastructure for CAAM Australia.
Richard Borysiewicz, Country Head for Australia and New Zealand, said: ”The opening of CAAM Australia is an important strategic step and recognises the importance of the Australian and New Zealand markets for CAAM Group. The Sydney office has seen positive growth over the last year and will continue to focus on institutional and multi-manager clients through high quality, innovative products and outstanding local support.”
“We are delighted with our first year performance and look forward to collaborating with a variety of clients as we bring our expertise to the local market in the areas of Global Fixed Income, Currency, Absolute Return, Emerging Market Equities, Fund of Hedge Funds and Structured Products.”