Major U.S. asset managers are planning to expand longstanding offices in Europe as they hunt for growth outside their home market
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“That 1-2-3 punch ... meant that a lot of firms that had a global footprint are starting to re-examine Europe as a core area for them to succeed,” Mr. Doolan says. While regional competitors with deep roots offer specialized local products, U.S. firms think they have an edge because of their ability to sell access to global strategies.
Retail giant T Rowe Price, which has US$1.23-trillion under management, has grown its European operation from about 300 people in 2012 to more than 1,000 now.
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