Vistra has appointed a 25-year Citi veteran as its country managing director for Luxembourg, adding to a rapidly-growing fund services team.
Jervis Smith joins after three years as Citi’s head of investor services in Luxembourg. He spent 25 years across various roles in Hong Kong, London and New York at the US banking giant, before moving to Luxembourg in 2016.
Vistra has been actively hiring in recent years, taking its personnel numbers from 250 people in 2008 to 4,300 in just over a decade
This summer, Onno Bouwmeister, divisional managing director, alternative investments at Vistra, explained to Global Custodian that the fund administrator was seeing “an interesting flow from the big four at the moment as well as the big banking players.”
The most recent appointment to Vistra’s Luxembourg office will aim to grow its business in the country together with the firm’s office in The Netherlands, in order to maximise joint opportunities between the two.
Vistra said the offices “share a mutual base of clients and culture”.
Based in Luxembourg, Smith will report to Vincent Bremmer, regional managing director, Europe, Vistra.
“Emerging as a jurisdiction of choice for corporations, institutional investors and private individuals amid Brexit uncertainty, Luxembourg has become the largest fund jurisdiction in Europe, and is one of our priority markets in Europe with a strong focus on alternative investments,” said Bremmer.
“Jervis’ extensive local and international experience puts us in a position to further capitalise on this important market. His track record and experience in leadership and client management will maximise the potential of our employees while further elevating our client relationship and service experience. I am delighted to have Jervis as one of the key senior leaders in Vistra to collaborate and create business opportunities with our international offices, offering clients a seamless experience across our global network.”