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Maples Fund Services launches new brand

Wednesday, October 06, 2010
Opalesque Industry Update - Maples Fund Services, an independent global fund services provider, announced a formal launch of their restructured fund administration business, formerly operating as Maples Finance. The announcement is part of the global restructuring of the Maples Finance business, which now operates as MaplesFS, with various business divisions including Maples Fund Services.

“With our new brand, Maples Fund Services is now positioned as a fully outsourced solutions provider,” said Scott Somerville, CEO of MaplesFS. “Over the past eighteen months, we have committed a significant amount of resources to Maples Fund Services, building out a best of breed operational infrastructure and technology platform, re-organizing our executive team, including adding dedicated business development resources in the US and Europe, and ensuring a global platform to offer a customizable service offering.“

Mr. Somerville, who previously held a number of senior management positions within MaplesFS, becomes CEO of the group. Toni Pinkerton, with the firm for 6 years, moves into the role of Global Head of Fund Services for Maples Fund Services. The Maples Fund Services executive team is rounded out by Tyler Kim, the Chief Information Officer, responsible for building out all technology and infrastructure.

“Our private status and ability to act independently allowed us to deliver against the necessary changes to become a fully outsourced solutions provider and meet the demands of the marketplace,” said David Brooks, Chairman of the Board, MaplesFS. “We will continue to invest significant capital and resources to the operational infrastructure and technology of Maples Fund Services to build the business and expand our service offering. As we move forward the focus will be on continuing to evolve as a market leader.”

Maples Fund Services is located strategically around the world across six jurisdictions, with technology infrastructure and data processing centers that provide for a 24-7 follow the sun servicing capability. The firm has invested in front-to-back office solutions through partnerships with Advent Geneva, Paladyne Systems and Linedata to build out an industrial strength technology and operational infrastructure. This is complemented with bespoke and proprietary technology to provide a customizable service offering.

About Maples Fund Services
Maples Fund Services is an independent global fund services provider. It has offices in a number of leading financial centres including the Cayman Islands, Dubai, Dublin, Hong Kong, Luxembourg, and New York. The firm provides a full range of fund administration services to onshore and offshore funds. The firm's clients come from a wide range of investment management firms and global financial institutions. Maples Fund Services is led by a team of experienced professionals and is committed to providing a high level of service, tailored to specific client requirements.

(press release)

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