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Bailey McCann, Opalesque New York: London-based Custom House Global Fund Services is returning to independence after a short stint with TMF Group. In February 2014, Custom House was acquired by TMF Group and renamed TMF Custom House Global Fund Services. Custom House's original hedge fund administration business was folded into a broader professional services feature set offered by TMF. However, both entities have since discovered that they prefer their core businesses individually, rather than as a blended company.
Over the past year, Custom House has successfully spun out and reinvested in its core administration business. In addition to the existing client base, Custom House won another 74 clients in 2015, while also making significant investments in IT, new offices, and adding headcount. All of those efforts are culminating in a new brand, which comes to market today. That brand will include a redesigned client website that is solely focused on fund administration, and a new logo.
"We felt like now was an important time to relaunch and underline that we were returning to our core business as an independent administrator," says Mark Hedderman, CEO of Custom House, in an interview with Opalesque. "We've seen in recent years a lot of firms rushing into administration and so it became very popular and very watered down. Now, people are getting out because they realize it is a very complex business. We ha...................... To view our full article Click here
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