ISIS Fund Services Ltd. has expanded its private equity fund administration business in Bermuda by hiring five local staff from J.P. Morgan, which is closing its Bermuda private equity office.
Scott Burns, who was head of private equity fund administration at J.P. Morgan in Bermuda, will lead the team at ISIS as senior vice president of Private Equity Services.
Burns says joining ISIS from J.P. Morgan was a natural fit.
I cannot think of a better home for our private equity family, Burns says. ISIS emphasis on putting the client first and investing time and resources into constantly developing staff and technology to stay in front of changes in the industry really resonated with me.
Bermudas Royal Gazette newspaper reported in June that the J.P. Morgan office, which had 16 staff, would close by the end of the year. A J.P. Morgan spokesperson confirmed the closure to Global Custodian.
Were thrilled to be adding such a high-caliber team to our existing operations, says Ede Conyers, CEO of ISIS Fund Services. Scott Burns and his team will bring a wealth of knowledge and expertise to ISIS, which will surely assist us with growing this part of our business.
Brian Desmond, CFO and COO of ISIS, says the firm has been developing its product offering over the past two years. Taking the time to shore up an already sound infrastructure over the past few years made it easier for us to bring on such a high-caliber group dedicated to private equity, Desmond says. Scott and his team will be a huge asset to ISIS as it continues to grow its footprint in the industry.
(CG)