March Gestión de Fondos, one of the largest Spanish private bank-owned asset managers, named Lorenzo Parages as its head of Distribution – responsible for the promotion of MGF funds in UK, Germany, Austria, Spain, Italy, Luxembourg and Latin America.
Prior to joining the Spanish asset management company, Parages was in charge of Allfunds Bank’s investment services operations in Latin America. Formerly, Parages worked in the equity sales division of Banco Urquijo, a Spanish private bank, before pursing his career at Axa Investments as financial advisor, then in several UK firms such as BSN Capital Partners, BlueCrest Capital Management and CMD.
March Gestión de Fondos CEO Jose Luis Jimenez said Parages would help maintain the rapid growth the firm has seen in Spain and overseas since the beginning of the financial crisis, namely a fourfold increase in asset under management since 2008.
He also commented: “Thanks to strong performance, we see continuing support for our range of global equity and bond products not only in Spain but also in Italy and increasingly in Latin America. With Germany being particularly supportive of investment in family business focused funds, we see potential for strong growth there too. In the UK, we are working towards establishing a more permanent base and so Lorenzo´s experience in London will prove particularly helpful.”