Custom House going it alone 24 February 2016London Reporter: Stephanie Palmer
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Custom House Global Fund Services has officially become an independent fund administrator, after receiving regulatory and government approvals.
The administrator split from parent TMF Group following a management buy-out in 2015, and intends to return to its original industry model, focusing on providing a services to address the complexity of financial markets.
It has launched new branding, including a new logo and website, intending to reassert the value of independent fund administration.
Mark Hedderman, CEO of Custom House Global Fund Services, said: “We are experiencing a demand in the industry for a return to core values. The origin of the fund administration business was always envisioned as an independent entity servicing the needs of the investor, completely free of conflict from any part of the investment process.”
He added: “We will provide a much needed model for the industry while continuing to focus on client delivery and quality service, backed by a high level of industry expertise and experience that resides in a talented team of senior level professionals.”
The split from TMF Group was initiated last year. In 2015, Custom House added 74 new client mandates, and it has signed 39 in 2016 so far. It has also opened new offices in London and Hong Kong.
Hedderman said: “We believe the time is right to bring to the forefront the important role an independent administrator can play in providing real value and comfort to managers and investors alike. Our new brand communicates a return to core values based on 25 years of experience and expertise in servicing the investment management sector.”
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