Citco Fund Services To Bring 258 Jobs To North Carolina

Jun 3 2010 | 11:21am ET

Charlotte, North Carolina is about to get an early Christmas present from hedge fund administration form Citco Fund Services in the firm of 258 new jobs.

Citco Fund Services—part of The Citco Group of Companies—is planning to open an office in Charlotte that will create 258 jobs over the next five years, according to the Charlotte Business Journal.

Citco Fund Services has seen its own fortunes, and size grow lately.

Already the largest administrator, last month Citco Fund Services teamed with OpHedge Investment Services to form a strategic alliance in which Citco, which has $550 billion in assets under administration to OpHedge’s $38 billion, will serve as sub-administrator for OpHedge. Citco has not taken an ownership stake in OpHedge; instead, the two sides agreed to split revenues.

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