Sergides served as a joint deputy CEO since July after Mark Porter decided to step down and take on an advisory role.
Tag: Fund administration
The combined compan will hold approximately $150 billion of assets under administration and service over 840 funds.
Northern Trust launched the first commercial blockchain solution for private equity administration in 2017, and earlier this year won US patents for two additional services on the platform.
NAFAA’s membership also includes Ultimus Fund Solutions, Apex Fund Services, Stone Coast Fund Services, Basiz Fund Services and North Street Global.
Euroclear’s investment fund services offering provides end-to-end automation for order placement, settlement and asset services.
Haggart previously served as head of fund accounting, and prior to joining SS&C in March 2017 he spent almost nine years at EY in Luxembourg.
Private equity managers are increasingly turning to administrators and their ability to introduce new technologies to deal with mounting operational requirements.
Ultimus is now the fifth administrator to join the association, founded by former JP Morgan, Citi and State Street fund services veteran Chris Meader.
The deal marks a significant milestone for Northern Trust’s aim to grow its collective investment trust fund services business in the US.