Nordea Asset Management, the asset management arm of Stockholm-based financial services group Nordea Bank, has strengthened its presence in Spain with a new Madrid office.

Nordea Asset Management, the asset management arm of Stockholm-based financial services group Nordea Bank, has strengthened its presence in Spain by opening a new Madrid office.

The team will be lead by Laura Donzella who has been in charge of the business in Spain since 2009, Nordea said in a statement.

This initiative forms part of Nordea’s international development plan and represents a clear commitment to the Spanish market.

Christophe Girondel, Global Head of Distribution at Nordea, said that despite the harsh economic turndown, Nordea has remained “committed to offering relevant solutions to the Spanish market”.

“Our focus on stability and providing outcome solutions has allowed us to gain the trust of Spanish investors. We would like to thank them for their confidence. Our decision also reflects the belief that in coming years Spain will return to become one of the strongest economies in Europe,” he added.

Nordea Asset Management also has a presence in Cologne, Copenhagen, Frankfurt, Helsinki, London, Luxembourg, Milan, New York, Paris, Sao Paulo, Singapore, Stockholm, Vienna and Zurich.