International Financial Data Services (IFDS), the international fund administration and transfer agency joint venture between State Street and DST Systems, announced today that it has appointed Simon Hudson-Lund as managing director of Administration Services, in which capacity he will be responsible for client relations and administration for all full and shared service clients.
Hudson-Lund is currently managing director of Legal & General’s unit trust operations, and will join IFDS on 1 June this year. Paul O’Neil has been appointed managing director of Cofunds Ltd. and will oversee the ongoing conversion activities while retaining responsibility for remote (ASP) IFDS clients. Paul Roberts has been promoted to Managing Director of Information Technology, Marketing, Product Development and Sales for IFDS.
“Simon Hudson-Lund will bring a wealth of experience,” says Charlie Eppinger, CEO of IFDS and Chairman of Cofunds Ltd. “He is well-equipped to guide our shareholder services team in its efforts to build collaborative solutions for the long term that alleviate clients’ administrative workload while supporting product innovation.” Earlier this year, IFDS and Cofunds announced the acquisition by IFDS of a significant ownership interest in Cofunds.
“Fund consolidation continues to be a major catalyst for change in our industry,” adds Boston-based Jay Hooley, an executive vice president of State Street. “Equally compelling is the expanding product mix and array of distribution channels that cater to people’s changing investment patterns. To serve the shareholder over the mid- to long-term, suppliers will need leading edge technology, and flexible service. Flexibility requires knowledge and understanding across markets and functions as well as local expertise. At the end of the day, the human element counts as much as the technical when the goal is to service the shareholder. IFDS brings an unmatched combination of people, passion, commitment and experience to this area of investment services.”