Rahul Shah was named managing director, sovereign wealth and official institutions, at RidgeWorth International, based in London.
The role is new, said a spokeswoman.
The newly established London office, which opened in March, represents $43.7 billion parent RidgeWorth Investments' first move into international markets, said a news release.
Mr. Shah will lead RidgeWorth's direct institutional sales and marketing, working with the existing institutional sales and client services team in the U.S. He will work with sovereign wealth funds and central banks in Europe, the Middle East and Asia.
Patrick McNelis, managing director of RidgeWorth International, said in the news release that the firm's institutional client relationships across six non-U.S. countries, “and a growing pipeline of foreign prospects,” meant the time was right to invest in the international business.
The spokeswoman said in an e-mail that the firm is recruiting for a second senior salesperson, who will cover the European institutional opportunity set, and could be appointed by June 30. A third employee will be added to the London office by year-end.
The firm comprises a number of institutional money management boutiques, covering equities, fixed income and other strategies.
Mr. Shah was previously global head of business development, official institutions, at State Street Global Advisors, according to the statement. A spokeswoman for the firm could not be reached for comment by press time.
