Apex extends partnership with Fund Recs

New five-year agreement includes transfer agency reconciliations. 

By Richard Schwartz

Fund Recs, a developer of cloud-based reconciliation software for the global funds Industry, has announced the extension of its relationship with Apex Group for a further five years. 

As well as extending the relationship, Apex has also subscribed to the Fund Recs TA Reconciliation module which will provide a more automated process in place for its Transfer Agency Oversight. 

Apex is using Fund Recs’ Velocity platform to tackle reconciliation challenges globally. Having initially deployed the software in 2016, Fund Recs has supported Apex by automating the reconciliation process. 

“It has been great to be part of Apex’s journey and support them to scale their business to over $2 trillion assets under administration,” said Alan Meaney, CEO at Fund Recs. “We are excited to build on that further over the next five years as we continue to support their Fund Accounting teams and have now begun to support their Transfer Agency team.” 

Jeff Pamplin, global head of operations at Apex Group added that, having worked with Fund Recs since 2016, “We have been impressed with the functionality that has been added in that time and expanding the relationship is key for enabling us to continue to grow as we look to integrate our recent acquisitions.” 

With 50 offices worldwide and 5,000 employees upon the close of announced acquisitions, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices.