Causeway Capital Bets on London for EMEA Push Amid Market Shifts

LONDON, UK – January 14, 2026

Los Angeles-based Causeway Capital Management LLC is making a significant strategic move into Europe, announcing the opening of a new London office and the appointment of a seasoned industry veteran to spearhead its regional growth. The $71 billion active equity manager has established a UK subsidiary, Causeway Capital Management (UK) Ltd., and hired Richard Clarke-Wilson as its Director of EMEA Business Development, signaling a deep commitment to one of the world's most competitive financial hubs.

The expansion comes at a pivotal moment for the European asset management industry, which is navigating a complex environment of market volatility, intense competition, and a shifting regulatory landscape post-Brexit. By establishing a physical presence in London, Causeway is positioning itself to better serve its existing European clients and aggressively pursue new relationships across institutional, consultant, and wealth management channels.

London's Enduring Allure for Global Managers

Causeway's decision to plant a flag in London underscores the city's persistent gravity as a center for global finance, even as firms adapt to new market dynamics. The move reflects a broader trend of US-based asset managers reinforcing their European operations to tap into structural growth drivers, rather than relying solely on cross-border distribution.

The EMEA asset management market, projected to grow from approximately $35 trillion in 2025 to over $62 trillion by 2031, presents a compelling, albeit challenging, opportunity. Growth is being fueled by several key factors, including a massive generational wealth transfer to millennials who demand more sophisticated digital engagement, and a powerful regulatory push towards sustainable investing through frameworks like the EU's Sustainable Finance Disclosure Regulation.

However, the competitive landscape is formidable. A "super league" of giant US managers has steadily increased its market share in Europe over the last decade, putting pressure on local and new-entrant firms alike. Profitability has been squeezed by declining revenue margins and rising operational costs associated with technology investment and talent acquisition. In this environment, organic growth strategies centered on specialized expertise and strong local relationships are becoming paramount. Causeway's London base appears to be a direct execution of this strategy, aiming to build a durable presence from the ground up.

The Human Catalyst: A Veteran to Lead the Charge

Central to Causeway's EMEA strategy is the appointment of Richard Clarke-Wilson. With over two decades of experience cultivating investor partnerships in the region, his hiring is a clear signal of the firm’s intent to leverage deep local expertise. In his new role, Clarke-Wilson will be responsible for building out the firm's relationships with prospective investors and clients across Europe, the Middle East, and Africa.

His extensive resume includes senior business development roles at several prominent firms. Most recently, he served as Head of Wholesale UK & Ireland at Harding Loevner, where he led business development in key European markets. Prior to that, he spent six years as Director of Business Development at Majedie Asset Management and ten years at GAM Investments UK, building a strong network and reputation within the intermediary and institutional channels.

"We are pleased to welcome Richard as Director of EMEA Business Development," said Sarah Ketterer, CEO of Causeway Capital Management, in the official announcement. "The opening of a London office reinforces our long-term commitment to serving clients across the region and expanding our international presence."

Clarke-Wilson's role will be critical in translating Causeway's investment philosophy into tangible business growth. His appointment highlights a core tenet of global expansion in asset management: that even in an increasingly digital and data-driven industry, the human element of trust, relationships, and on-the-ground knowledge remains an indispensable asset for market penetration.

A Differentiated Edge in a Crowded Field

Causeway aims to distinguish itself in the crowded EMEA market through what it calls a "distinctive integration of fundamental and quantitative research." This hybrid approach, which underpins all its strategies—including Global Value, Global Systematic, and Emerging Markets equity—is what the firm believes will give it an edge in navigating today's complex markets.

The firm’s investment process relies on a powerful synergy between two distinct teams. Its fundamental research team, organized by global sectors, performs rigorous, bottom-up analysis to identify undervalued companies with significant upside potential. This deep-dive, traditional value investing is then complemented by a sophisticated quantitative research team. This quant group not only manages its own systematic strategies but also provides powerful screening tools, factor research, and advanced risk management analytics to support the fundamental portfolio managers.

Richard Clarke-Wilson commented on this unique selling proposition, stating, "Causeway’s differentiated blend of deep fundamental insight and innovative quantitative research creates real value for clients navigating increasingly complex markets. I’m delighted to help extend that capability across EMEA and build long-term partnerships based on trust and performance."

This integrated model aims to capture the best of both worlds: the deep, contextual understanding of individual companies from fundamental analysis and the broad, data-driven discipline and risk control of quantitative methods. For European investors, two of the firm's key offerings will be its Global Value and Emerging Markets UCITS funds. The latter has demonstrated strong results, with its US-based counterpart, the Causeway Emerging Markets Fund (CEMVX), earning a 5-star rating from Morningstar and consistently outperforming its benchmark over the long term.

Navigating a New Regulatory and Competitive Era

By establishing Causeway Capital Management (UK) Ltd., the firm enters a UK regulatory environment that is in a state of deliberate transformation. Following its departure from the European Union, the UK is actively reshaping its financial rulebook through legislation like the Financial Services and Markets Act 2023. The goal is to bolster the country's global competitiveness by creating a more agile and streamlined regulatory framework, distinct from that of the EU.

For a new entrant like Causeway, this presents both challenges and opportunities. The firm must navigate the rigorous Financial Conduct Authority (FCA) authorization process and remain vigilant of diverging rules between the UK and EU. However, the UK government's stated ambition to speed up authorization timelines and simplify certain compliance burdens could ease the path for well-prepared firms.

The competitive challenge remains immense. Causeway will be vying for institutional and wholesale capital against global giants and established local specialists. Success will depend not only on the performance of its funds but also on its ability to effectively communicate its unique value proposition. The combination of a proven investment engine, a new physical presence in a key financial hub, and the leadership of a well-connected regional expert suggests that Causeway Capital Management is embarking on its European expansion with a clear and deliberate long-term strategy.