Fund services round-up: Vistra, Ultimus, FundBank, and more 

This week’s fund services round up features: Vistra, Ultimus, FundBank, Gen II Fund Services, Aztec Group, IQ-EQ and Apex Group. 


By Editors

Vistra, the Hong Kong-based business services provider has gained approval from the Central Bank of Ireland to offer fund administration services in the country. Aimee Gill has been appointed CEO and head of fund accounting for Vistra Funds Services (Ireland), while Paul McDonald and Jacqueline Evbodaghe will lead investor services and risk/compliance, respectively. 

Ultimus, a US-based provider of fund administration, accounting, and investor solutions, is assisting CAZ Investments in the launch of the CAZ Strategic Opportunities Fund. This marks CAZ Investments’ debut in publicly offered vehicles, and they manage assets worth USD$6 billion. The fund, structured as a tender offer fund, aims to promote long-term investment strategies by enabling investment managers to allocate fewer liquid assets.  

FundBank has named Michael Errico as the managing director for North America relationships. In this role, Errico will be instrumental in delivering banking, custody, and trade execution services to asset managers and their funds. 

Gen II Fund Services has named Richard Browne as the head of client service for Luxembourg. Browne previously served as deputy CEO and head of private asset fund administration at Credit Suisse Fund Services Luxembourg. His appointment comes after Gen II’s recent acquisition of Crestbridge’s private equity and real estate business. 

 Aztec Group, a fund and corporate services provider based in the Channel Islands, has introduced its AIFM service in Luxembourg. This offering encompasses marketing, compliance, risk management, regulatory reporting, and portfolio management. 

 IQ-EQ has supported Milleis Banque, a French private bank, with its first retained securitisation, FCT French Prime Cash 2023. This cash securitisation, rated and backed by a residential mortgage portfolio, marks Milleis Banque’s entry into the securitisation market. IQ-EQ serves as the bank’s AIFM for the FCT securitisation vehicle facilitating the financing for this transaction.  

 Apex Group has opened an office in Riyadh, Kingdom of Saudi Arabia. Under the regulation of Saudi’s Capital Market Authority, Apex Saudi Arabia will offer a range of financial services and solutions.