Caledonian Global Fund Services have opened a new state-of-the-art operations centre in Orlando Florida.
“This is an important step as our business expands and the needs of our clients and the hedge fund industry continue to grow and evolve. We will gain efficiencies and streamline operations in our Chicago, Cayman Islands and Isle of Man offices and will provide the group with the scalability and robust infrastructure required for future growth and development,” says David Walker, CEO, Caledonian Fund Services.
The 5,000 sq foot office will provide centralised infrastructure for the group including post trade capture, reconciliations, valuations, fund accounting and IT support. The operations center will be staffed with an initial team of 25 who will report to Kate Joseph, who has over 20 years experience in the hedge fund industry.
Joseph was most recently senior project manager and then training manager at CITCO in NY. Prior to that she was director of Operations and then director of Business Integration at Caxton, a multi-billion dollar hedge fund based in NY.
The Head of Market Data, Head of IT, Head of Fund Accounting and the Head of Reconciliation and Trade Processing will report to Joseph who, in turn, reports to the Global Fund Services Board of Directors.
“The new office crystallizes Caledonian’s commitment to provide institutional service and support to its entire customer base by establishing centralised infrastructure, operations and support teams,” says Ali Mudeen, director and global head of Marketing, Caledonian Global Fund Services.
Orlando was selected as the site for the office due to its accessibility to other group offices, its protected location in central Florida and its association with the University of Central Florida, the 6th largest university in the United States.
“Orlando is one of the fastest growing cities in the United States, and we expect the Orlando office to meet our expansion needs for many years. In addition, we are actively evaluating the possibility of a service center in the Asia Pacific region as well as other strategic ventures,” adds Mudeen.