Opalesque Industry Update - The Fund Services Division of the Citco Group of Companies (“CFS”) announced the official opening of its new Shanghai office. The office already has 80 staff and will project the expansion of CFS’s middle and back office administration services in the greater China region and the Far East in general.|
Citco Fund Services (Shanghai) Ltd further expands CFS’s worldwide footprint as the World’s largest alternative investment fund administrator. This additional office will provide critical follow-the-sun business processing coverage for CFS globally, and will expand its ability to supply services to alternative investment clients located in this rapidly growing region.
With global assets in excess of $650bn, CFS offers independent administration and outsourced middle office services to hedge funds, fund of funds, private equity funds and managed account platforms from 19 separate strategic centers globally. In May 2010, CFS entered into a strategic partnership with OpHedge Investment Services (“OpHedge”) to provide clients with a suite of enhanced middle office services. The OpHedge partnership enabled CFS to leverage OpHedge’s existing office in Shanghai to expand rapidly into the region.
Mr. Jeff Li, who was previously president of OpHedge’s Shanghai operation, has been appointed Managing Director of Citco Fund Services (Shanghai) Ltd and will oversee the company.
Commenting on the opening of the new office, William Keunen, Global Director of the Citco Fund Services Division, said that “the opening of the Shanghai office brings our total staff in the region to almost 400 in four companies, located in Hong Kong, Singapore, Shanghai and Sydney, and reinforces the Citco Group of Companies’ commitment to the hedge fund industry in the Far East by supporting our clients across all asset classes, including on shore RMB fund structures.”
About Citco Fund Services:
The Citco Group of companies provide an array of administrative, fiduciary and financial services around the world. Founded more than 65 years ago, Citco Group companies operate in over 40 countries and offer three core products: hedge fund services; banking and custody; trust and corporate management.
Companies within Citco Fund Services offer fund administration services to hedge funds, fund of funds, private equity funds and managed accounts. Services include legal and corporate services, investor relations, accounting and net asset value calculations, and transfer agent services.
For more information, please visit www.citco.com