18 April 2011
Dublin:18 April 2011: Apex Fund Services, one of the world’s largest independent global fund administration businesses, announced today that it will create 50 jobs in Ireland over the next 18 months with the opening of a new office in Dublin. The new office opening is in response to Apex Fund Services rapidly growing client base internationally.
With 21 offices internationally, Apex Fund Services located in Cork 4 years ago, and successfully recruited the highly skilled financial services staff required to grow and scale the business in Ireland. Now having reached its optimum size and with an increasing amount of funds business going through the Irish office, establishing a presence in Dublin was the obvious next step for the Apex Funds Services management.
John Bohan, Managing Director, Apex Fund Services Ireland, commented:“Irelandhas always been an important part of Apex’s international expansion. With over 43% of the world’s hedge funds administered in Ireland, the Cork office was an initial spring board for the company’s global expansion, which now sees Apex in 21 countries around the world. We are already actively recruiting for the new positions in the Dublin office, which will be mainly graduate roles in the area of fund accountancy, compliance and IT”.
CEO of Enterprise Ireland Frank Ryan added, “Financial services is a very important sector for the Irish economy with significant potential for export and employment growth. Apex Fund Services is a prime example of the dynamic and ambitious Irish companies that are driving export growth in this sector. With its innovative, quality services, Apex Fund Services has pursued a successful internationalisation strategy that has led to increased employment in Ireland with this latest expansion in Dublin. I warmly congratulate them on their continuing success and Enterprise Ireland looks forward to continuing to support Apex Fund Services in its ongoing international growth.”
Peter Hughes, Group Managing Director, Apex Fund Services Limited, commented: “Despite the global financial crisis, our Cork office has performed spectacularly well and has given Apex a healthy share of the Irish fund administration market. Our Dublin office is now ready to work alongside our Cork office. Today’s announcement is another step for Apex in reaching our goal of being in the top 25 fund administrators worldwide by the end of 2011.
For further information: www.apexfundservices.com
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Notes to the Editor:
About Apex Fund Services Ltd.
- Over 43% of the world’s hedge funds are administered in Ireland, with over €1.7 trillion in funds administered here.
- With over $17 billion of assets under administration Apex services its clients through 21 offices across the globe.
- In the last year alone Apex has taken in over 100 new clients. The firm continues to launch into new territories to provide "local" services to its clients with regional expertise
- Apex's client base consists of hedge fund, long only and private equity managers, ranging in size from start-up operations to global businesses.
- The firm services a variety of alternative investment products such as real estate, private equity, venture capital, commodities and hedged and absolute strategies.
- Apex launched the world’s first ever Middle Office fund administration service (MOOR) that gives hedge funds a real-time portfolio management system.