Cyril Delamare has stepped down as chief growth officer at Waystone, whilst remaining as an independent non-executive director of the MontLake UCITS platform. Delamare founded MontLake in 2009 and led the business through its merger with DMS Group and MDO, creating Waystone Group. Des Johnson, global chief revenue officer, will now lead the commercial team.
Category: Independents
SS&C acquires Australian TA business
SS&C has signed a definitive agreement to acquire the managed funds administration business from Iress, an Australian financial services technology company. The MFA business is one of Australia’s largest third-party fund registries, with around AUD900bn (USD576bn) in managed assets across over 1,400 funds, four custodians and 69 fund managers. The deal is expected to close…
Sadu appoints Apex
Apex Group has been appointed by Sadu Capital to provide fund administration and AML solutions. Sadu Capital is a Saudi-based venture capital firm that invests in private technology startups. Sadu’s latest Cayman-domiciled fund focuses on investing in early-stage start-ups based in the Middle East & North Africa region.
TMF expands in Malta
TMF Group, the Netherlands-based provider of business administration services, plans to acquire Avanzia Taxand in Malta. Avanzia Taxand provides tax advisory and tax compliance services, as well as a suite of corporate services, including domiciliation, accounting and directorship. Completion of the transaction is subject to regulatory approvals.
Ultimus supports launch of Beacon ETFs
Ultimus Fund Solutions, a U.S.-based provider of fund administration, accounting, and investor solutions, has supported Beacon Capital Management in the launch of its first series of ETFs. Beacon, an investment advisory firm managing c. USD5.1bn and specialising in delivering separately managed account (SMA) strategies to the independent RIA, broker-dealer, and regional bank channels, sought diversification…
Equity Trust buys Midland Trust
Equity Trust Company, a U.S.-based custodian of self-directed IRAs, has acquired Midland Trust, a self-directed IRA company based in Fort Myers, FL. Equity Trust services individuals seeking to self-direct their retirement investments, offering access to investment options such as real estate, private equity, and precious metals.
TMF to acquire FIDD in Brazil
TMF Group, a Netherlands-based provider of administrative services, has entered into an agreement to acquire FIDD Group, a full-service outsourced fund administration provider based in Brazil. The transaction is subject to regulatory approval by Banco Central, with completion expected in 2024. Following the acquisition, TMF Group would administer more than EUR200bn of client assets. FIDD…
SS&C re-hires Jason Vaughn
Jason Vaughn has joined SS&C as head of strategic revenue for its global investor and distribution solutions business in the U.S. He joins from FIS. He previously worked for SS&C between 2016 and 2020.
IQ-EQ wins USD10bn PA mandate
IQ-EQ, the Luxembourg-based administrator, has been appointed by Flexstone Partners to provide fund administration and a suite of related services. As part of this mandate, IQ-EQ has lifted out Flexstone’s key servicing team from its legacy provider, MB Fund Administration. Flexstone Partners, an affiliate of Natixis Investment Partners, is a private investments firm with >USD10.1bn…
Formidium opens in GIFT City
Formidium, a U.S.-based provider of fund technology and back-office solutions, has opened a workspace at Gujarat International Finance Tech-City (GIFT City) in Ahmedabad, India.