BZW Asset Management, one of the world's largest institutional investment firms with $298 billion in assets under management, has unveiled its new structure.
After Barclays Bank PLC, London, completed the purchase of San Francisco-based Wells Fargo Nikko Investment Advisors and Wells Fargo Bank's defined contribution arm, they were reorganized into three main units:
BZW Barclays Global Investors, managing some $243 billion in quantitative approaches. It includes the quantitative funds from Wells Fargo Nikko Investment Advisors; the MasterWorks unit, which specializes in defined contribution plan administration; and BZW Asset Management's quant funds.
BZW Investment Management, with $54 billion in discretionary and advisory assets, provides active management.
BZW Property Investment Management runs some $1.4 billion in real estate investments.
Lindsay Tomlinson, joint chief executive for BZW Barclays, said major growth areas include Britain, the Netherlands and Japan. BZW executives also hope to provide investment management for retail vehicles, such as funds distributed to U.S. investors through Oppenheimer Capital.
Chairman Fred Grauer noted the inclusion of the MasterWorks unit will be particularly helpful as European markets turn toward a defined contribution system.