Could you provide us with some background on yourself and how you got started in the fund administration industry?
I started my career many years ago as an auditor at EY. It was a great opportunity for me to work with clients across industries: fund, insurance, banking, asset management, retail, health care, manufacturing, and so on. The fund and asset management space was immediately attractive to me because of the energy and passion of the professionals I worked with. It felt different in all those firms during audits compared to my experience in other industries. I ended up spending a lot of time auditing early-day hedge funds, which were limited partnerships, but I largely worked on mutual fund audits.
After EY, I joined BISYS in the fund accounting and financial administration groups. I spent so much time there during my EY auditing days, I realized that I really wanted to be in the business, not just auditing it. At BISYS, I was fortunate to be tapped to move to Dublin, Ireland, where I ran fund accounting and administration operations across Europe. This was a great opportunity, but at the same time, a stretch for me. Looking back, it helped me become a better leader.
Eventually, I made my way back to the States when BISYS acquired Rothstein Kass Consulting, which at the time was one of the largest hedge and private equity fund administrators in the US, and I became COO of that business. A few years later, Citi acquired BISYS which led me to various roles within Citi, both globally and in North America, but always in the fund administration and middle-office space.
In 2014, I joined Ultimus as COO, became president in 2017, and CEO in 2019. During that time, we have grown into the only independent fund administrator with scale across all product wrappers in the US. That includes everything from an ETF to a retail alternative to a private equity fund – we can service it. I’ve been fortunate to have the diversity of experiences throughout my career to prepare me for the role I have today.
What would you say are the most significant changes you’ve seen over that period?
The fund industry is constantly evolving, and it’s one of the many things I love about this business – you are always learning and being challenged by new opportunities. The big changes I have seen are the proliferation of new wrapper types, as well as the continued push on new asset classes to invest in.
A current example is one of our fastest-growing segments: retail alts, and while we have serviced those types of funds for decades, the demand to use those wrappers to provide access to new types of asset classes to a larger investor pool is significantly expanding, managers are also making tweaks to existing structures which are blending the registered and private worlds further. It is exciting that Ultimus is at the forefront of this. You can go down the list of other wrappers such as closed-end funds, hedge funds, ETFs, and SMAs. The list goes on and will certainly keep evolving to meet investor demand.
Technology has been a transformational force in the fund administration space and accelerates as each wrapper begins to gain popularity. For instance, back in the 90s, mutual fund trades were booked manually. This is just one minor example of something that is completely automated and straight-through processing for us.
Other wrappers, such as private market funds, often have complicated waterfalls that have historically relied on Excel spreadsheets to handle. We now use our uWaterfall tool to automate those calculations, improving accuracy and speed of delivery. We are also in the early innings of AI, but this will be transformational for the fund administration space in the coming years, allowing us to add even more value to our deliverables for clients.
What would you say have been your standout achievements during your career?
My career has been shaped by some incredible milestones, but all of them have been achieved by the teams I was part of, not just by me. By far my biggest highlight has been transforming Ultimus. When I started, we were at $25 billion in assets under administration, and now we’ve grown to over $750 billion, making us the only independent administrator with scale across wrapper types in the US.
As part of that growth, I’ve had the opportunity to lead four acquisitions and a merger, which really expanded our capabilities and market presence. Most importantly, I have had a chance to work with and build incredible teams at Ultimus that help us deliver the high levels of client service we’ve become known for.
I’m also really proud of the work we’ve done with technology. Helping to develop our award-winning uSUITE® platform has been a game-changer, driving innovation in data digitisation, automation, and client-focused solutions. Clients are at the center of our business, their success is our success. In the last five years alone, we have supported over 350 fund launches. That leads to the recognition we’ve received as a company – like being named Mutual Fund Administrator of the Year for nine years running, Private Equity Fund Administrator of the Year for three years, and ETF Admin for three years. And we have the leading retail alts administration in the industry. All of that is incredibly rewarding for me.
But what stands out the most to me are the relationships I’ve built. Whether it’s the amazing teams I’ve worked with or the clients I’ve had the privilege to serve, those connections mean everything. It’s funny – when you run into someone years later, it feels like catching up with an old classmate. Those relationships are what I truly cherish the most, and maybe some wouldn’t categorise that as an achievement, but I do.
What advice would you give to your younger self starting out in this business?
If I could give advice to my younger self – or to anyone just starting out – it would be to think big, don’t limit yourself. Don’t shy away from challenges or ambitious goals, because real success often comes from stepping outside your comfort zone. It’s in those moments of discomfort that you can grow the most, even if it doesn’t feel like it at the time.
I’d also say to embrace change. This industry is always evolving, and being adaptable is so important to staying ahead. The ability to pivot and learn as things shift around you is a skill that will serve you well throughout your career.
Another big area is building relationships internally and externally. Building strong teams and fostering meaningful client partnerships are absolutely essential for long-term success. The connections you make – whether with colleagues, mentors, or clients – can shape your career in ways you might not expect.
And finally, I recommend staying curious about technology. New tools and innovations are constantly emerging, and they are not just trends, they are tools. Being open to them, learning to use them, and understanding how they can improve processes or spark new ideas can set you apart and drive real efficiencies.
It’s a lot to keep in mind, but these are the lessons that have made a big difference in my own journey, and I think they can for others too.