GLOBAL - Vanguard Group has closed its offices in Brussels and will be moving staff and services to its London base, the company has confirmed.
The closure of the Belgian base occurred at the end of last month, after what a spokeswoman called a "large strategic review" of its business outside of the US.
Joanne Voelcker, former managing director at Vanguard Investments Europe and head of the office, has returned to the US, where she heads the company's client insight team.
A spokeswoman said of the decision: "It became apparent that Vanguard's clients would be best served by consolidating the Brussels operations with those that are in place in London."
She confirmed that investment management and client service would be moved to the UK, after its London outlet had grown to almost 50 people in a short time.
Thomas Rampulla, managing director at Vanguard International Investor Group, will remain in charge of the London office.
The spokeswoman was keen to stress that the change would not affect clients.
"For most clients, it's a non-event," she said. "They will still have dedicated clients contacts in the London office. Their service really won't change - it's really just a change of location."