Europe
Cerulli’s Europe practice evaluates the key drivers of product development, distribution, and demand across retail and institutional asset management. Size the market, uncover the impact of regulation, and hone your approach to expansion.

Practice Detail
Explore the European asset management market. Cerulli’s Europe practice evaluates the key drivers of product development, distribution, and demand across retail and institutional asset management. Size the market, uncover the impact of regulation, and hone your approach to expansion. Cerulli’s industry-leading analysis across a spectrum of topics—environmental, social, and governance (ESG) investing, alternative investments, retail investors, pension markets, and cross-border distribution—can help you spotlight opportunity and capture assets in this dynamic market.
Publications
- Annual report
- The Cerulli Edge
Our Experts
Meet the Team
Our team consists of sophisticated industry veterans dedicated to studying the market, crafting best-in-class quantitative analysis, and helping clients build their businesses with intelligent, objective insights. Learn how they can help you.

Wouter Bakker, CFA
Senior Analyst
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Wouter Bakker, CFA
Senior Analyst
Wouter is a Senior Analyst on the European Institutional Asset Management team, providing quantitative and qualitative research for Cerulli’s European research products.
Prior to joining Cerulli, Wouter worked at Euronext, where he served as a Product Manager covering investment funds. He also previously worked as a Product Specialist at Candriam and Vanguard Asset Management.
Full biography here.

Justina Deveikyte, CAIA
Director
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Justina Deveikyte, CAIA
Director
Justina joined Cerulli Associates in February 2014 and heads the European Institutional Asset Management research practice. In her role, she is responsible for all research activities relating to institutional investors, the firm’s analysis of alternative investments, the environmental, social, governance (ESG) section, and all data-science-based activities. She also contributes to multiple strategic consulting engagements and The Cerulli Edge series.
Justina is the lead author of several Cerulli reports, covering insurance, retirement, ESG, and alternative investments. Throughout her career, she has successfully developed partnerships with industry associations and has presented at several conferences and events across the Europe.
Prior to joining Cerulli, Justina was a Financial Manager and Global Analyst at Global Food Consulting; she previously has provided professional advice on banking products, including unit-linked insurance and third-pillar pension products at SEB Bank Group.
Full biography here.

Aliz Gyenes
Analyst
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Aliz Gyenes
Analyst
As part of the London team, Aliz is responsible for supporting the research function through survey design and analysis for both institutional and retail practices and for carrying out daily interaction with research partners.
Before joining Cerulli, Aliz worked as a data analyst for Leading Point, where her primary focus was on ESG research and data interpretation. She graduated from the University of Warwick with a joint degree in Business Management and Finance and was an Executive of the Women in Consulting society.
Full biography here.

Georgia Merichoviti
Analyst
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Georgia Merichoviti
Analyst
Based in the London office, Georgia provides quantitative data and analysis for Cerulli’s European retail research products.
Before joining Cerulli, Georgia worked at ETFGI, an ETF and ETP research and consultancy firm, and was responsible for handling, scrapping, and interpreting the data for the ETF industry. Georgia graduated from the Athens University of Economics and Business with a Bachelor of Science in Accounting and Finance and the ICMA Centre, University of Reading with a Master of Science in Corporate Finance.Full biography here.

Thomas Potter-Landua, CAIA
Research Analyst
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Thomas Potter-Landua, CAIA
Research Analyst
Thomas is part of the Retail and Wholesale Asset Management team, that focuses on analyzing asset management product development trends, investment, operational and marketing strategies, market and distribution dynamics, regulatory changes, and performing market and competitive intelligence in the United Kingdom, Continental Europe, and the Nordics.
Prior to joining Cerulli, Thomas worked at GAM as a Market Intelligence Analyst and as a Research Analyst at Citywire.
Full biography here.

Víctor García Priego, Ph.D.
Senior Analyst
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Víctor García Priego, Ph.D.
Senior Analyst
Based in London, Víctor works across the retail and institutional asset management teams. He provides quantitative and qualitative analysis for Cerulli’s European research products.
Prior to joining Cerulli, Víctor worked at Platforum, where he was responsible for European and ESG research. In his previous role as Global Head of Research at Fundamental Media, he conducted research among end investors, financial intermediaries, and institutional investors across Europe, Asia-Pacific, and the United States.
Full biography here.

André Schnurrenberger, CFA
Managing Director, Europe
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André Schnurrenberger, CFA
Managing Director, Europe
André Schnurrenberger is the managing director of EMEA for Cerulli Associates and leads all research, consulting, and business activities in the region. Since joining Cerulli Associates, André has focused on wider distribution and product trends across European asset managers and has worked with some of the largest global investment firms, reviewing their product shelves, enhancing their business models, and helping them define strategies for future growth.
Prior to joining Cerulli, André spent 7 years at Columbia Threadneedle Investments, most recently as head of Business Management and Market Intelligence & Research for EMEA Distribution, and before that as Head of Performance. He held previous roles at UBS Wealth Management in Zurich and London, including Head of Investment Analytics and Performance.
Full biography here.

Annalise Toberman
Senior Analyst
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Annalise Toberman
Senior Analyst
Based in London, Annalise is part of the retail asset management team. She provides quantitative and qualitative analysis for Cerulli’s European research products.
Prior to joining Cerulli, Annalise was Head of Insight at Research in Finance, where she scoped and managed research studies across private and professional investor audiences, as well as speaking at client and industry events.Annalise graduated from the London School of Economics a Bachelor of Science in Politics. She holds the Market Research Society’s Advanced Certificate.
Full biography here.

Carlos Yao Bazaco
Survey Analyst
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Carlos Yao Bazaco
Survey Analyst
Carlos joined Cerulli in the London office. He acts on a supportive capacity to the research team by designing surveys and analysing data, both for the institutional and retail practices.
Prior to joining Cerulli he worked at AlphaSights, an expert network firm where he serviced Consulting accounts. Carlos attended the University of Exeter where he pursued a bachelor in Business with an ethos of sustainability.
Full biography here.

Fabrizio Zumbo
Director
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Fabrizio Zumbo
Director
Fabrizio leads the European Retail/Wholesale Asset Management research practice, which focuses on analyzing asset management product development trends, investment, operational and marketing strategies, market and distribution dynamics, regulatory changes, and performing market and competitive intelligence in the United Kingdom, Continental Europe, and the Nordics.
Prior to joining Cerulli, Fabrizio served as a Lead Industry Analyst at State Street in London and as a Senior Analyst & Research Editor for the PwC’s Global Market Research Centre in Luxembourg. Previously, he carried out several field-based research projects in emerging and frontier markets for international market research and economic consulting firms, spending almost five years performing economic and industry analyses in several countries in Latin America, Africa, and the Middle East.
Full biography here.
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