Santander Asset Management will open a branch in Frankfurt, Germany after receiving authorization from German regulators. The new office will support distribution of funds through Santander Bank's retail network in Germany of 170 branches and over 1 million customers. It will also provide opportunities to grow in the German institutional market. Santander Asset Management's global CEO said the new branch enhances their position in Europe by entering one of the largest EU economies. Stefan Jochum will head the new Frankfurt branch with an initial team of 11 people offering investment advisory, research, and distribution support.