UMB Fund Services has hired a 30-year fund operations veteran to oversee its growing transfer agency business.
Mike Huisman has joined as a senior vice president and director of transfer agency. He replaces Scott Schulenburg who has transitioned into a new client relationship management role.
Prior to joining UMB, Huisman was the head of alternative product solutions at Envision Financial Systems, overseeing sales, product direction and system development. He also previously spent 11 years at DST Systems in various software development and operations roles.
“Mike’s industry experience and expertise will be critical to our continued success and improvement, ensuring we deliver the best possible service to our growing client base,” said Maureen Quill, executive vice president and executive director of registered funds at UMB Fund Services.
“Now more than ever, product evolution is driving transfer agency service innovation. Mike’s skill set allows us to service increasingly diverse product sets while maintaining our high-touch client service and competitive pricing.”
Last year, UMB Fund Services achieved record growth as assets under administration (AuA) grew 42%, and under Schulenburg’s five-year leadership, UMB’s transfer agency business increased its AuA by 87%.
Transfer agency has emerged as a key growth area for fund administrators, as traditional providers continue to withdraw from core markets. Last year, UK asset manager Aberdeen Standard Investments appointed SS&C Technologies as its transfer agent, while real estate manager Prologis selected Apex Group to provide full depositary and transfer agency services for its flagship Luxembourg-domiciled fund.