Apex Fund Services appoints UK managing director 19 December 2011London Reporter: Justin Lawson
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Apex Fund Services (UK) Limited has received authorization by the UK’s Financial Services Authority (“FSA”) as a Fund Operator.
As a Fund Operator, Apex’s UK office is now one of a small number of administrators in the country that is authorized to provide independent administration services to regulated collective investment schemes domiciled in the UK. Importantly all UK based investment managers will be serviced locally from London.
Leading the growth of the London office is Colin Targett who joins the Company from Standard Bank in Jersey where he was head of valuations. Colin is a highly experienced fund administrator having formerly been Vice President at BISYS (now Citi). After qualifying as a chartered accountant he joined KPMG Bermuda in 1998 to specialize in the audit and accounting of alternative investments funds.
Commenting on the authorization, Peter Hughes, group managing director said: “With offices in most of the world’s financial centres the timing is now right for Apex to launch in the UK. The economic uncertainty is making high quality levels of service and innovative products more and more valuable to investment managers. Receiving FSA authorization demonstrates this is precisely what Apex offers its clients.
“Our strategy of global reach, service locally continues to drive the successful growth of the Company and we look forward to Colin bringing his own extensive experience to Apex.”
Commentating on his appointment, Colin Targett, managing director of Apex Fund Services (UK) Ltd added: “Since its launch eight years ago I have monitored Apex’s rapid growth and personal approach to client servicing. Opportunities to launch an office in London for a fast growing global company don’t come round often.
“I am delighted to be joining the team and overseeing the expansion of the UK office. With asset managers seeking to explore more alternative investment strategies than ever before, Apex is the perfect partner for any manager looking for assistance and specialist expertise."
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