Apex reveals FundRock acquisition 15 October 2020London Reporter: Maddie Saghir
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Apex Group, a global financial services provider, is set to acquire FundRock Management Company SA and FundRock Partners.
Expected to be complete in Q1 2021, the acquisition will complement the group’s 2019 acquisition of Luxembourg-based ManCo LRI.
Apex said it will reach close to $1 trillion in combined assets across administration, custody, depositary and under management once the transaction is complete.
The acquisition will see FundRock clients benefit from Apex’s international presence and will be able to access new markets through its operating model across 45 offices.
Peter Hughes, founder and CEO of Apex Group, commented: “We are committed to continually enhancing our service model and enriching our client experience. The FundRock business adds weight to our ManCo capabilities and further strengthens our single-source model, enhancing our ability to support clients across all aspects of their business, no matter where they are in the world.”
Xavier Parain, CEO of FundRock, added: “We are excited to become part of the Apex Group, one of the strongest providers in the industry that, crucially, shares our commitment delivering to the highest levels of client service. This transaction will enable us to draw on Apex’s international network, density of product and innovative solutions, such as its environmental, Social, and Corporate Governance ratings and advisory and digital banking, to support sustainable growth for our clients in a highly competitive market.”
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