John Pauly, managing director of Luxembourg-based transfer agent First European Transfer Agent (FETA), has confirmed that the company has ambitious expansion plans in the United Kingdom.
While visiting London for a conference, Pauly confirmed that FETA expects to have a transfer agency facility in place on the outskirts of London within the first quarter of 2002 and is now looking for a senior industry figure to head up its UK operations. FETA, part of the Dexia-BIL Group, says the UK facility is only one of several FETA needs to service existing clients, who increasingly require a pan-European fund distribution platform. The aim is to be servicing 2 million accounts in the United Kingdom by 2005.