NEW YORK, Oct. 12, 2012 /PRNewswire/ -- Aberdeen Asset Management Inc. ("Aberdeen") announces the opening of a new office at 712 Fifth Ave., New York City, as part of a continued campaign to expand its business in North America. Sir Peter Westmacott, British Ambassador to the United States, Roger Cornick, Aberdeen's Chairman and Martin Gilbert, Aberdeen's Chief Executive, marked the occasion with a ribbon-cutting ceremony.
The New York office will serve as a business development and marketing center and complements Aberdeen's North American headquarters in Philadelphia, as well as the company's on-the-ground business development presence in Chicago, Miami, San Francisco, Dallas, Los Angeles and Toronto.
Aberdeen has had operations in the U.S. since 1995 and established its North American headquarters in Philadelphia in 2005. As of June 30th, Aberdeen manages more than $50 billion on behalf of clients in the Americas invested in a range of domestic and international equity, fixed income and property portfolios.
Martin Gilbert, Chief Executive of Aberdeen Asset Management, comments:
"The opening of the New York office is a natural next step for us as we look to expand our U.S. footprint. Aberdeen's expertise in international equity, fixed income and property portfolios continues to attract interest from U.S. investors as they look to diversify portfolios abroad, while some of our U.S. domestic products, specifically fixed income, are also gaining traction. Now we have people based in New York and other key cities across the U.S., we can build on the progress we've already made to grow our North American business substantially."
Sir Peter Westmacott, British Ambassador to the United States, comments:
"Aberdeen Asset Management is a fine example of the strength and depth of Britain's financial services industry. Throughout its journey from a small fund with $80m under management to a FTSE 100 listing and approximately $287 billion portfolio, AAM has proudly kept its base in Aberdeen, Scotland, the city where it began. This expansion into the New York market is a tremendously exciting time for the company and I wish everyone concerned the best of luck."
About Aberdeen Asset Management
Aberdeen Asset Management PLC, the parent company of Aberdeen Asset Management Inc., is an independently-run asset manager listed on the London Stock Exchange since 1991, and operating from 31 offices in 23 countries ("Aberdeen"). Aberdeen invests on behalf of institutional and wholesale clients, primarily in equities, fixed income, alternative investment strategies and property. The Group manages more than US$286.5 billion of assets for both institutions and private individuals as of June 30, 2012.
SOURCE Aberdeen Asset Management Inc.