Augentius fund administration establishes in Belfast
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Augentius fund administration establishes in Belfast 18 May 2012Belfast Reporter: Georgina Lavers
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Augentius Fund Administration is to establish a centre in Belfast, which will employ up to 164 professional staff.
Augentius provides outsourced fund administration services to the private equity and real estate sectors. Formed 10 years ago with offices in London and Guernsey, Augentius has subsequently expanded, opening offices in New York, Luxembourg, Mauritius, Singapore, and more recently, The Netherlands.
Seventeen new jobs have been created by Augentius in the new Belfast office in recent months and this is expected to grow to 30 by the end of the year, supporting clients in both onshore and offshore locations.
Enterprise minister Arlene Foster said: “This investment, the first ever from a London based fund administration company, is a significant milestone in the development of the financial services sector in Northern Ireland.
“Augentius considered several other locations for the centre including Canada, China, India, Dublin, and other UK cities. Its decision to locate here reflects its desire to maintain its core service centres within the UK and the very strong reputation that Northern Ireland has built up as a cost-effective working environment with access to a skilled and educated workforce.”
David Bailey, managing partner and one of the founders of Augentius, commented: “Augentius has a strong reputation for the development of its staff. We take junior and part qualified accountants, train them in our sector and support them to obtain their professional qualifications. We have people who joined us as trainees and are now fully qualified accountants responsible for their own teams and clients."
“As a consequence, the availability of high quality people along with a strong educational sector was one of the important factors to us when considering the locations for our investment and we are looking forward to working with Queen’s University and the University of Ulster going forward.”
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