09.09.2012

Plenty Happening with Fund Administrators

evestment|HFN

by Ricardo Kaulessar , Editor

Published:September 19, 2012

ALPS Fund Services, Northern Trust, and Opus Fund Services have been busy recently with various developments.

Opus has unveiled its Recon3 solution, which the firm said in a press release is an “enhancement of its middle office service offering.” The new technology allows Opus to perform automated trade, position and cash reconciliations between fund manager, prime brokers and Opus records, for an unlimited number of accounts daily.

Northern Trust has brought on a new employee in George Hindmarsh, who will serve as head of business development for its Asia-Pacific region. Hindmarsh worked previously at Citi Transaction Services.

ALPS has opened a new office in Toronto and added a new member to its New York team. Mariana Salamanca will serve as a sales and marketing executive, focusing on further development of the firm’s hedge fund business in New York.

Also, Chicago-based Northern Trust and Bermuda-based Opus are featured in the just-released eVestment|HFN Q2 2012 Administrator Survey. Northern Trust ranked 7th amongst hedge fund administrators with $154.22 billion in assets under administration as of end of the second quarter of this year, and Opus was 34th with $4.59 billion in hedge fund AuA.

Colorado-based ALPS managed more than $6.6 billion in assets and provided servicing to more than $338 billion in client assets as of June 30.