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Pioneer Investments, which recently poached Aon Consulting’s Swedish head Mats Langensjö to become its head of institutional business in the Nordic region, is considering the possibilility of entering into a tie-up with a local bank.
“We would like to enter into an agreement with a local player,” Mr Langensjö told nrpn. “Working with a local partner would be a good solution for us – one of the big Nordic banks perhaps.
“The asset management outsourcing model is the way forward for a lot of the local guys. They cannot afford to be mediocre when it comes to asset management.”
Mr Langensjö said he expects to run money for five to 10 Nordic clients by the end of next year. “We are totally unknown in the Nordic market and that means we can build a strong reputation from scratch. We are here for the long term but I hope to have won mandates from as many as 10 clients over the next 12 months.”
Mr Langensjö founded Aon Consulting in Stockholm when he joined the firm in 2004. Prior to that, he was executive director at Goldman Sachs in London.
He told nrpn at the time of his appointment: “I am delighted to be joining a leading global asset management firm which still has huge potential.
“I was ready for a new challenge and the attraction for me was that although there is an established, institutional division in the company, the Nordic region is almost completely untapped.” CN
