Alliance Capital Management of New York opened its first office in Germany this week in an effort to increase sales of its offshore funds there.
Alliance is seeking to build its business among independent financial advisers, private banks, large German and multinational banks, and insurance companies, said Kurt Schoknecht, chief executive of ACM International.
The office, in Munich, is staffed by four wholesalers, an office manager, and an administrative assistant. The company plans to increase its wholesaling force to at least 10 over the next two years, Mr. Schoknecht said.
