Rakesh Kumar has joined Formidium (formerly Sudrania) as an EVP in the technology group. He was previously at Hitachi Vantara.
Category: Independents
Apex supports Foord’s new Australia fund
Apex has been appointed by Foord Asset Management to support its expansion into the Australian market. Apex will provide fund administration, transfer agency and custody services to Foord’s new Australia-domiciled fund, the Foord Global Equity Australian Feeder Fund. This follows the recent announcement that Foord had appointed Equity Trustees as the Responsible Entity (trustee) for…
PFS wins new platform mandate in Bermuda
Pacific Fund Systems, the Isle of Man-based portfolio platform provider, has been selected by Kensington Fund Services Ltd, a newly established fund administrator based in Bermuda, for the PFS-PAXUS fund administration system for its third-party fund administration business operations. Pacific Fund Systems has a client base with >USD1trn of assets on PFS-PAXUS. Graham MacDonald, Managing…
Inversis to acquire stake in Adepa
Inversis, a 100ct subsidiary of Spain’s Banca March specialising in global solutions for financial asset distribution, has agreed to acquire 40pct of Adepa, a Luxembourg-based group providing management and administration services for investment vehicles (UCITS and alternative funds, including real estate and venture capital), which has operations in Luxembourg, Spain, Italy and Chile. The agreement…
Paul Heffernan joins Waystone
Paul Heffernan has joined Waystone as CEO of its ETF business. He previously spent six years at HSBC in senior European sales roles for the securities services business. He is based in Ireland.
Broadridge appoints new CTO
Broadridge Financial Solutions, a U.S.-based fintech provider, has appointed Tyler Derr as chief technology officer. He will be responsible for overseeing Broadridge’s global technology teams, including enterprise-wide software engineering, product delivery, architecture, infrastructure, cybersecurity, and technology operations. Derr will report to CEO Tim Gokey. He has been with Broadridge for 10 years. Derr succeeds John…
Ocorian granted three new licences in Ireland
Ocorian, the C.I.-based administrator, has been granted three new licences by the Central Bank of Ireland. The firm, which has offered corporate and capital market services in Ireland for 15 years, now has licences covering AIFM, fund administration and real asset depositary services.
Sudrania rebrands
Sudrania Fund Services, the U.S.-based administrator, has rebranded as Formidium.
Intertrust hires head of AIFM in Lux
Johannes Höring has joined Intertrust, the Netherlands-based administrator, as head of AIFM in Luxembourg He has worked in Luxembourg, Germany, UK and Ireland in various senior positions, including conducting officer, managing director and manager of fund management companies and authorised AIFMs.
Apex to acquire Darwin
Apex plans to acquire Darwin Depositary Services, a Netherlands-based provider of depositary services for alternative investment funds. Darwin will add EUR4.5bn (USD4.7bn) of assets, expanding the geographic scope of Apex’s independent depositary services, currently delivered through subsidiary European Depositary Bank in Luxembourg, Ireland, UK and Malta. Darwin’s management team will join Apex following completion of…