First State Investments, the UK asset management arm of the Commonwealth Bank of Australia, has launched an office in Paris - its first European branch – and plans to open a second one in Frankfurt within the next six months.

The firm first tapped into the French market in 2002 with its funds and has since developed client relationships with fund-of-funds managers, multi-managers, family offices and insurance companies, the firm said in a statement.  

“As our product range expands and becomes more sophisticated, the branch office in Paris will afford us greater access to the French asset management industry, aiding both the growth and retention of our business in France,” said Gary Withers, regional managing director for Europe, the Middle East and Africa.

Philippe Taillardat, who was appointed co-head of European infrastructure investments in September last year, will be based in the new office.

In other related news, the firm named its first non-executive director in October last year, subsequently unveiling an emerging markets bond fund for UK and European investors the same month.