MUFG Fund Services names Tim Thornton as COO

MUFG Fund Services, the asset servicing business of Mitsubishi UFJ Financial Group, has appointed Tim Thornton as its chief operating officer (COO).

The appointment, which was effective on October 1, 2015 comes as the previous COO Ken McCarney was named chief executive officer (CEO) in March 2015 following the retirement of Glenn Henderson.

Thornton will be responsible for strengthening the operational and client focus within MUFG Fund Services’ executive team.

Thornton will retain his role as chief data officer, where he has been expanding the firm’s technology-focused and data driven approach to fund administration.

MUFG Fund Services has been expanding, having acquired UBS’s Alternative Fund Services business in June 2015 for a reported $244 million. In March 2014, MUFG Fund Services acquired Meridian Fund Services, a Bermuda-based fund administrator.

In 2013, MUFG Fund Services purchased Butterfield Fulcrum as it sought to diversify its administration business beyond long-only fund managers and pension funds.