The individual investor services team of Russell Investment Group has opened a divisional sales and services office in Tampa, Florida, the company announced Monday. Its new location will be a center of services to east coast clients, responding to retail needs in a regional market that Russell says is growing rapidly.

With its headquarters in Tacoma, Washington, the investment management firm provides products and services to clients in over forty countries, and managed more than $155 billion in assets for advisory clients as of the end of 2005. Russell’s Tampa office will be headed by eastern division manager Franziska Stiens, who had already worked out of the city. It becomes Russell’s third divisional headquarters in the U.S., catering to east coast clients as Tacoma and Milwaukee bases serve west coast and central U.S. markets, respectively.

“With an increasing growth in our client base throughout this important region, the Tampa office will allow us to better focus on more in-depth and personal service for our financial intermediaries,” Greg Stark, Russell’s managing director for individual investor services, said in a statement.

The office opened its doors the week of February 21, said spokesperson Jennifer Tice, and currently houses ten sales reps. She said the company intends on at least doubling this number of staff “over the next couple of years.”

Russell previously had numerous sales associates working out of the east coast, but no dedicated sales office. Tice said Tampa was chosen as the east coast location because of its proximity to Russell’s distribution partners and financial intermediaries, and to members of its existing sales team.  

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