Turner Investment Appoints Peter Yarrow To Grow Operations Abroad

In an effort to bolster its client base abroad, Turner Investment Partners, a Berwyn, Pa.-based asset management firm with $25.2 billion in assets under management, has hired Peter Yarrow, who most recently served as senior investment director at Fidelity Pensions Management in London. Yarrow is charged with growing Turner's business in the U.K., Continental Europe and the Middle East.

Turner's trading and fund management operations will remain in the United States, but Yarrow will work to build a team to service the fund manager's clients abroad. "My focus will be on the client-facing piece in Europe so clients can be more relaxed about looking at Turner as prospective fund manager with their accounts serviced in their time zone by a local team," he explains. According to Yarrow, pending the necessary regulatory approvals, Turner will be opening an office in London, where he will build his team.

Yarrow adds that there are a wide range of prospects Turner hopes to tap in the area, from large advisory funds to sub-advisory for retail banks in France, Spain and Italy. "These banks use a retail network to distribute a range of funds, but they don't regard themselves as primary fund managers. So it's a great opportunity for the use of sub-advisers to manage those assets," he says.

The Middle East also is an important area of focus. "The big state funds are generating huge revenues as Middle Eastern countries are putting aside money for the day when oil runs out," Yarrow says. "Many have their own internal fund management teams, but ... many also use external fund managers."