FundBPO granted permission for Malta office 19 December 2016Sliema, Malta Reporter: Stephanie Palmer
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Fund administrator FundBPO has opened a new office in Malta, having been granted regulatory approval to act as a fund administrator in the island.
Now it has received a recognition certificate from the Malta Financial Services Authority, FundBPO will open an office in Sliema, responsible for the group’s fund services in Europe.
The administrator has appointed Malcolm St John to head up the new office as country manager.
St John joins from Apex Fund Services in Malta, where he was head of compliance and internal audit. He has more than 15 years of fund services experience, and has also worked at HSBC.
The opening of the new office follows acquisitions of Galileo Fund Services Limited in the Isle of Man and Fundadministration in New York, meaning FundBPO now has offices in Australia, Hong Kong, Singapore, the US, the Isle of Man and Malta.
Martin Smith, CEO of FundBPO, said: “We are encouraged by the level of interest in Malta as a domicile and processing centre for European funds. Clients are attracted to our unique offering as a listed global fund administrator with AUD $95 billion in funds under administration."
“Next we will explore ‘passporting’ our Malta fund administration licence to Luxembourg and Dublin to further our reach in Europe.”
St John said: “We believe Malta offers an excellent gateway for clients seeking investment solutions for European markets. At the same time our new office represents a significant opportunity to offer cross-border services and ‘follow-the-sun workflow to our existing clients out of Malta.”
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