Allspring Global Investments has opened a new office in Italy to develop its local presence, appointing Marco Negri to lead it.

Allspring Global Investments, an independent asset manager with more than $541 billion in assets under management, has appointed Marco Negri to lead its new Milan office.

Negri has over 18 years’ experience working for global asset managers and leading business development and sales strategy in southern Europe. Reporting to Sylvain Agar, head of international financial institutions, Negri will be responsible for expanding Allspring’s local presence and servicing a growing portfolio of wholesale, retail intermediary and institutional clients in Italy.

Prior to joining Allspring, formerly Wells Fargo Asset Management, Negri worked as country head, Italy, at La Financière de l’Echiquier and as head of southern Europe for Legg Mason Global Asset Management, overseeing the company’s sales efforts in France, Italy and Iberia. He has also served in senior roles at UBS Global Asset Management, SGR and Dexia Asset Management.

“The establishment of our Milan office is a reflection of Allspring’s commitment to build local teams in key markets,” Andy Sowerby, head of international client group at Allspring said.