Fund administration technology firm TrustQuay has launched in Luxembourg after opening of an office in the fintech incubator Luxembourg House of Financial Technology (LHoFT).
The move follows some significant investment in Luxembourg-specific functionality including electronic reporting formats and files such as eCDF, the electronic platform for the collection of financial data.
In addition, TrustQuay signed Luxembourg-based corporate services provider Centralis as a customer earlier this year.
The firm has also bolstered its leadership team. Executive chairman Keith Hale, who recently received Luxembourg citizenship, will be joined by former FundRock executive Birgit De Prins, who has been appointed as director of business development.
“The corporate services, trust and fund administration sector is undergoing unprecedented change, driven by accelerating consolidation and a rapid drive to digitalisation,” said Hale.
The LHoFT office would enable TrsutQuay to “better serve our customers who have operations and their end-clients in Luxembourg, as well as help expand our local customer base” added Hale.
Hale recently spoke to Funds Europe editor Nick Fitzpatrick about the rapid development of the specialist fund adminsitration market, driven by increased investor interest in private capital asset classes. The video can be seen here.
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