From Precy Dumlao, Opalesque Asia:
Global hedge fund administrator and operations service provider Viteos Fund Services announced plans to establish its presence in the Asia Pacific region as part of its latest strategic push.
In a statement, the company said that the core of the effort will initially focus on addressing the needs of the Hong Kong and Singapore investment management market. Viteos will provide its complete suite of services including fund administration, middle office, and consulting on implementation to hedge funds and family offices in the region.
The firm has already established a foothold in North America and Europe, thus the expansion in the Asia Pacific region is a reflection of the increased importance of bringing fund services to Asia and the Pacific Rim, given an environment where there is an increasing focus on operational efficiency.
Jay Moghe is to Head Singapore Office. Viteos CEO Shankar Iyer stated, "Our move into APAC reflects our belief that the market for 'next generation’ fund services is underserved and that our experience, expertise, technology and global reach in operations will meet the needs of the hedge fund and family office firms in the area. Jay Moghe’s experience in a variety of roles and his local relationships will be critical as we build our franchise."
This move is very timely. According to the annual Greenwich Associates 2011 Asian Intermediary Distrib......................
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