Apex Fund Services (“Apex”), one of the world’s largest independent fund administration companies, announces the appointment of David Brown as the new Managing Director of Apex’s Bermuda office. David has worked in the fund administration industry in Bermuda for the last 10 years.

 

The recent change in government together with the launch of Apex’s Emerging Manager Incubation Services, which includes free office space for emerging managers, have led to Bermuda returning to being a favourable jurisdiction for fund managers to be based.

 

One of David Brown’s roles will be to target European and US fund managers for both their fund domicile and for the location of their funds’ operations. Bermuda offers a more favourable tax environment, robust regulations and at the same time lower operating costs than operating under AIFMD.

 

David replaces Apex’s Group Managing Director, Peter Hughes, who has managed the Bermuda office since he founded the Company there ten years ago.

 

Prior to being appointed Managing Director of Apex Bermuda, David was most recently a Senior Manager of Operations for Butterfield Fulcrum, and prior to this he held a senior management position at CACEIS Investor Services (formerly Olympia Capital) in Bermuda. David also worked for PwC, both in England and Bermuda, within their Alternative Investment and Banking group.

 

Peter Hughes, Group Managing Director, Apex Fund Services, said: 

 

“Having started Apex originally from Bermuda and grown it to become one of the larger Bermudan administrators, I will always have a particularly close affiliation with the office, its clients and its employees. Bermuda gave Apex the springboard to become the global company it is today.

 

"It has taken time to find someone with the right credentials to hand over the office to and I am delighted that David has agreed to join the Apex family and maintain the growth of Apex Bermuda by capitalizing on the fresh opportunities Bermuda now offers.”

 

David Brown, Managing Director, Apex Fund Services Ltd., said: 

 

“From its origins in Bermuda, Apex has grown fast to become one of the most successful international fund administration businesses. While they are hard shoes to fill I very much look forward to taking forward the work Peter has successfully done in Bermuda and leading the company into the next stage of its growth.

 

“The Bermuda office has a strong legacy of being at the forefront of developing new services for its clients and with the launch of its Insurance Linked Securities administration services, Apex’s reputation will continue to be built on innovation and the highest client servicing levels.”

 

Apex Fund Services Holdings Ltd.

Peter Hughes, Group Managing Director                                              +44 7780 997609

peter@apex.bm

 

David Brown, Managing Director, Apex Fund Services Ltd.                   +1 441 707 2739

davidb@apex.bm

 

Mark Way, Corporate Communications                                                 +44 7786 116991

mark@apex.bm

 

 About Apex Fund Services

 

• Apex has more than $23 billion under administration, more than 400 clients and over 300 employees in 29 offices across 20 countries;

 

• Apex has more people doing real accounting work in more places than any other administrator;

 

• Apex's strategy of “global reach, local service” is underpinned by a sophisticated cloud-based technology platform, which means it can operate seamlessly across borders;

 

• Having cloud hosting allows Apex to offer enhanced functionality to clients including Apex Funds 247, an online reporting tool that allows fund managers and investors to create customised reports quickly with verified portfolio data;

 

• As part of a wider initiative to increase transparency and access to investment portfolios, Apex is able to provide real-time risk and P&L to the iPhones and iPads of managers and investors;

 

• Apex is able to provide clients with a cloud-based Portfolio and Order management system;

 

• Apex is a total solution provider with a full suite of services to asset managers globally enabling Apex to deliver everything locally on a global scale.

 

• Apex offers a number of platforms including, US, Bermuda, Cayman and Guernsey Emerging Manager (for small or start up funds), Luxembourg SIF, Ireland UCITS and QIF, Luxembourg UCITS, Bermuda Shariah and the Malta PIF.

 

For more information, please visit www.apexfundservices.com.