IQ-EQ, the Luxembourg-based provider of fund and corporate services, has named Matt Okolita as global head of outsourced business services. Okolita previously led Greyline Partners LLC, a regulatory, compliance and governance consultancy which was acquired by IQ-EQ in 2021. Okolita will report to Mark Fordyce, regional CEO, Americas, and will join the IQ-EQ U.S. executive…
Category: Independents
Apex acquires Indian administrator
Apex Group has acquired BEST Alternative Advisory Services, an India-based financial services provider. BEST will add AuA of USD30bn to the Apex Group, and an additional 35 employees based in Mumbai, India. BEST delivers fund services for open and closed-ended fund client profiles including private equity, fund of funds, mutual funds, managed accounts and hedge…
Ultimus reports major ETF growth
Ultimus Fund Solutions, a U.S.-based independent provider of fund administration, accounting and investor solutions, has reported a nearly 150pct increase in the number of ETFs serviced since 2020. Ultimus now claims to be the third largest named ETF administrator in the U.S., based on the number of ETF sponsors it supports.
AssetMetrix hires in UK
AssetMetrix, the Germany-based fintech, has appointed Clifford Norton as head of business development for the UK & Ireland. Norton was previously at Allvue Systems.
Gareth McKeon joins Gen II
Gareth McKeon has joined Gen II Fund Services in Luxembourg. He was previously at State Street. Gen II is thought to be the largest independent private capital administrator, with USD650bn AuA.
SS&C to provide risk analytics for new bitcoin fund
ProFunds, a mutual fund provider with c. USD60bn AuM, has appointed SS&C to provide 18f-4 risk analytics for its BitCoin Strategy ProFund. ProFunds claims that this is the first publicly available U.S. mutual fund whose investment results generally correspond to the performance of bitcoin, before fees and expenses.
Komainu appoints new CEO
Komainu, a C.I.-based regulated institutional-grade digital asset custody services provider with >USD5bn AuC, has appointed Matthew Chamberlain as its CEO. For the past five years, Chamberlain has served as CEO of the London Metal Exchange, Komainu was founded in 2018 as a joint venture between Nomura, digital asset security firm Ledger, and digital asset investment…
Apex appoints new Bermuda MD
Apex has appointed Keith Mahon as managing director, Bermuda. Established in 2003, Bermuda was the location of Apex’s first office. Mahon returns to Apex after a period of self-employment. Ross Webber, the previous incumbent, has left the company.
Catalyst hires MD for fund services
Catalyst, a Cayman-based administrator, has appointed Rossana de Maio as managing director – fund services. Based in Rio de Janeiro, Catalyst’s latest office, she will be responsible for developing and running the firm’s global fund services operations, covering five jurisdictions and accounting for over 150 clients with USD8bn AuA. She joins from the Bahia Group,…
Universal-Investment wins EUR4.5bn ManCo mandate
Universal-Investment has been appointed as the new ManCo for the Luxembourg fund portfolio of Switzerland’s Fisch Asset Management. The Fisch Umbrella Fund, with AuC of c. EUR4.5bn (USD5.1bn), covers 13 UCITS sub-funds which include corporate bond, convertible bond and absolute return funds. RBC Investor Services Bank remains responsible for fund administration, custody and transfer agency.…