Malvern-based Vanguard Group, the second-biggest asset manager in the world, is aiming to grow its business in Spain with its first hire in the European country, write Macarena Muñoz and Loukia Gyftopoulou for Bloomberg.

The investment behemoth, which already oversees $12 billion of assets for its clients in Spain, is currently hiring a sales executive to cover the region.

Vanguard has had “strong interest from both prospects and existing clients in Spain” and the new role will be “dedicated to serving clients in the country,” said a Vanguard spokesperson.

The new hire will start in one of the company’s other locations in the European Union, and will later move to Spain.

Vanguard manages around $9 trillion globally. It is one of the rare large asset managers without a sales office in Spain. Both Fidelity International and BlackRock already have offices in the Spanish capital.

As of March, international investment managers had approximately €276 billion of overall assets distributed in Spain.

Vanguard currently oversees $378 billion in assets in Europe.

Read more about Vanguard Group heading into Europe and trying to grow a business in Spain in Bloomberg.

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