International Asset Management, one of the oldest fund of hedge funds managers, is opening a branch office in Spain to expand its client base and service in Iberia.

Marivi Lorente has been appointed general manager for the Madrid office.

She will be responsible for developing IAM's client base in Southern Europe and its relationships with clients across the region.

Lorente has long-standing experience in the alternative and traditional asset management spaces. She previously worked at Santander Investments, N+1 Group as a partner of hedge funds asset management and at Alpha Value Management as a partner.

Morten Spenner (pictured), chief executive at IAM, says: "We are excited about expanding our presence in Southern Europe and in Spain, in particular. We have opened this Madrid office in response to the growing demand for tailor-made hedge fund portfolios in the region. We are delighted to have Marivi join us and look forward to building our relationships with local clients."

IAM also has offices in London, New York and Stockholm.