CSC announced its Fund Services expansion into Ireland as part of its long-term strategy to provide global clients access to its suite of Fund Administration, Capital Markets, and Depositary services.
“After a comprehensive six-month application process with the Central Bank of Ireland, CSC has been licensed to provide its Fund Services offering in one of the leading European financial centers,” the company said.
The company said that the current expansion follows several strategic hires and other investments, including the organic recruitment and launch of Fund Services businesses in the U.S. and APAC markets.
“McHugh will lead the Dublin office, supported by a highly experienced management team, including David Barry as head of operations, David McCormack as head of transfer agency, and Lynda Kenny as head of risk and compliance, while Paul Whelan joins to oversee our global depositary offering,” the company added in its press release.
“Ireland continues to enjoy a reputation as a dominant European and global fund administration center,” says Liam McHugh, managing director of Fund Services for CSC. “Given the current trend of consolidation and M&A activity amongst competitors, we feel we are well placed entering the market as a privately owned partner with a more than 120-year history. Our long-term stability, as well as our client centric approach, is highly valued by our clients.”
CSC has been working with 60% of the top 100 global alternative asset managers, providing specialized outsourcing services to them and their advisors in the U.S., Europe, and Asia.
“Unlike other providers, one of our greatest strengths is that our professionals in the United States, Europe, and Asia-Pacific work as one team to deliver fully complementary and multi-jurisdictional solutions,” says John Hebert, senior vice president of CSC. “Our global capabilities and team-based approach enables us to work in partnership with our clients regardless of market, service, asset type, or location—so we’re positioned to make our client’s interests our top priority.”
The Irish office of Simmons & Simmons advised CSC on the licensing and approval process with the Central Bank of Ireland.
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