Specialist fund administration has seen a flurry of job changes lately after Ocorian hired business development people from rivals in the sector and from the large, traditional fund administrators owned by custodians.
Ocorian – which has US$260 billion (€215.3 billion) in assets under administration and employs 1,250 people – hired five business development directors from firms such as Maitland and Societe Generale.
The appointments span private equity and listed funds as the firm looks to complement specialisms in direct lending, infrastructure, venture capital, real estate, and debt funds.
Andrew Stewart, who was most recently executive director at MUFG Investor Services and executive vice president at The Citco Group, joins Ocorian to work across alternative investments and listed funds in regions including Europe and Asia.
Chris Mayfield joins from Vistra, another fund administrator, and will help drive growth in corporate services across the UK and Europe.
Vivienne Fitzpatrick has banking and funds experience after holding senior business development roles at JP Morgan, Barclays Capital and State Street. Fitzpatrick will work on helping create scalable outsourcing models.
Natasha Head (pictured) will support the growth stemming from alternative investments in the UK and Europe and joins from Maitland. She has experience of custody for managed account structures, and fund administration for venture capital and private equity managers.
William Turmann joins from Societe Generale Luxembourg where he was a vice president. Having worked on “integrated investment solutions” for asset managers, he will focus on the acquisition of new funds and corporate clients.
Simon Behan, chief commercial officer of Ocorian, said: “The calibre of our new appointments represents the confidence and ambition we have in our growth capabilities as a leading provider of funds and corporate services.”
The appointments of Fitzpatrick and Turmann can be seen as a feature of the ‘Brain Gain’, where specialist fund servicers have hired people from some of the larger custodian-owned fund administrators.
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