SS&C Technologies has hired technology veteran Joseph Maxwell from rival fund administrator Citco, for its hedge fund services business.
Maxwell joins as technology head of SS&C’s GlobeOp’s hedge fund administration group, where he will lead its technology and architecture for servicing hedge funds.
He will also drive the service provider’s technology solution strategy, and further strengthen its position in hedge fund administration.
Maxwell joins from Citco where he served over 12 years at the fund administrator, most recently as chief information officer where he was the lead technologist for its group of companies. He also held senior technology roles at BDO Seidman and Deutsche Bank.
“He [Maxwell] will manage all aspects of our fund administration technology and will work closely with clients to create greater efficiencies and innovation for their funds,” said Kenneth Fullerton, head of SS&C GlobeOp’s hedge fund administration business.
Hedge fund administration has been cited as the perfect testing ground for new technologies, such as artificial intelligence, natural language processing and robotic automation process (RPA), because of how much data they sit on.
Last year, SS&C’s Rahul Kanwar, executive vice president at SS&C GlobeOp (and now chief operating officer for the tech giant), told Global Custodian they were exploring the deployment of AI for hedge fund services.
“AI will certainly help administrators improve the accuracy of the work they are doing. There is a lot of client interest in AI and we are fielding inquiries about what we are doing with AI and how we are approaching it,” Kanwar said.