US and international asset manager GEM Global Equities Management has launched GEM Global Equities Management (UK) with the appointment of Steve Wallace as business development and client relationship manager, based in London.

The move comes as assets under management have more than doubled in the last twelve months to reach $750 million, driven, says the firm, by investor interest in its focus on niche sectors within emerging markets. The London office will service the firm's UK and continental European clients as well as targeting prospective investors.

Before joining GEM, Mr Wallace was a vice president and client relationship manager at ING in London, where he established the customer relationship management function for the Eastern Europe, Middle East and Africa equity desk and assumed responsibility for maintaining senior level client relationships.

Chairman Anthony Inder Reiden said: "The firm has been investing in emerging markets since 1993. Investment timing and being close to the ground is a significant source of superior returns in emerging markets, where price movements are more volatile than in developed economies. Our nimble structure as a firm provides for timeliness in decision-making".