Europe’s investment potential could explode once the Greek drama is over, according to one of Wall Street’s largest asset managers.
“The underlying fundamentals in many places in Europe are quite sound, but [the Greece issue] detracts focus from that,” said Sheila Patel, CEO of International Goldman Sachs Asset Management (GSAM), a firm that manages $1.2 trillion globally.
“We’ve seen some strength in peripheries like Spain and Italy but when you see [Greece] going on, can we convince investors to move ahead? I’d say they are still hanging … For every five investors we get to take a look at Europe, only one invests,” she told CNBC on Monday.
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