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Natixis targets US offshore expansion and plans new hires

Natixis targets US offshore expansion and plans new hires

Natixis Global Asset Management plans to bolster its US offshore business by hiring a dedicated sales manager for Texas and California, Citywire Americas has learned.

The firm, which manages close to $900 billion in assets around the world, has US offices in New York, Miami and Boston. Miami remains the largest hub for Latin American offshore investors, but the firm sees potential in Texas and California, said Matthew Shafer, head of international distribution at Natixis.

‘There remains some great opportunity not only for Latin America but also for Asian investors in places like San Francisco and the Los Angeles area, Pasadena, maybe Orange County,’ Shafer said.

‘Having someone dedicated to those markets we feel is the right approach, which will complement what we’re doing in Miami and New York.’

Natixis already serves clients in the two target states from its Boston and New York offices, said Sophie del Campo, general manager for Iberia and head of Latin America and US offshore.

She added that the firm spotted the opportunity in Texas and California a few months ago but that it wanted to strengthen its Miami and Boston businesses before appointing a dedicated manager for those states. Del Campo expects the new hire to happen by July.

‘You have quite a significant number of entities over there that were not well covered by asset managers,' Del Campo said. ‘There’s a big community. It really makes sense for us to be there.’

In October last year Del Camp told Citywire Americas about their plans to expand their business in Latin America. So far no deal has been officially signed off but they are in the pipeline, she added.

LatAm research demand

The multi-affiliate firm, made up of 23 groups, is also looking to expand its London-based Portfolio Research and Consulting Group (PRCG), del Campo said.

Based in London, the team is made up of 14 consultants and has performed more than 6,000 model portfolio evaluations, according to the Natixis website and a spokeswoman for the firm.

Through PRCG, Natixis has offered portfolio construction models for the Afores pension funds in Mexico. This year it has experienced a pickup in demand from a wide range of clients in Latin America, including institutional investors and private banks, del Campo said.

‘We have received requests for analyzing portfolios not only in terms of risk but also to give them research of what’s going on in other markets,’ del Campo said.

‘We have recently released a global barometer where you can compare what’s going on in [Latin America] and US offshore compared to other regions of the world. This is very important for our clients.’

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