US fund administrator CSC has expanded its European business with a new Irish office to service the growing number of local alternative asset managers.
Through the new Irish business, CSC will offer a full suite of fund administration, capital markets and depositary services.
“Ireland continues to enjoy a reputation as a dominant European and global fund administration centre,” said Liam McHugh, managing director of fund services for CSC. “Given the current trend of consolidation and M&A activity amongst competitors, we feel we are well placed entering the market as a privately–owned partner with a more than 120-year history.”
The expansion follows several strategic hires, a recent acquisition, and other investments, including the launch of its fund services businesses in the US and APAC markets.
McHugh, the former head of Apex Group’s Asia-Pacific operations, will lead the Dublin office and be supported by David Barry as head of operations, David McCormack as head of transfer agency, and Lynda Kenny as head of risk and compliance.
The administrator has also hired Paul Whelan from the European Depositary Bank to oversee its global depositary offering. Whelan also previously spent over four years heading Deutsche Bank’s depositary services, and nearly two years at INDOS Financial in a similar role.
CSC’s client base includes 60% of the top 100 global alternative asset managers providing specialised outsourcing services in the US, Europe and Asia.
Last month, CSC completed the acquisition of Dutch-based alternatives funds services provider TCS-Groep (TCS), extending its capabilities for hedge funds and its European reach.