UBS has opened a fund administration center in Dublin. Staffed with 10 employees, the new center provides a range of fund administration services to both onshore and offshore funds.
The new office will be headed by Mark Mannion. “Dublin has established itself as the leading fund administration centre in Europe with $200 billion in hedge fund assets currently being serviced and it made sense for us to locate a hedge fund administration unit where most of the business is routed,” Mannion said. “It will enable us to provide a first class professional service to new and existing clients in the European time zone.”
UBS currently has hedge fund assets of $60 billion under management in the Cayman Islands, which was established in 1972. UBS Fund Services provides global custody and settlement services in addition to providing administration services to hedge funds.