Hedge fund administrator JD Clark & Co. and its parent, UMB Fund Services, have a lot to crow about. The firm said it enjoyed a “surge” in new clients in the first half, and has added more than 50 new employees to help serve them.
The Milwaukee-based firm, which acquired JD Clark last year, said it added 19 new clients in the first half, among them hedge funds Alpha Beta Capital Partners, Pacificor and Persimmon Capital Management. UMBFS and JD Clark have also hired 40 new associates, as well as 11 more in a newly-acquired managed accounts business.
“I am proud of the growth that UMBFS is experiencing in this difficult economy," said John Zader, CEO of UMBFS. "We have focused on continuing to offer clients the strength, stability, and service culture they need in an environment of provider downsizing and service lapses. That focus resonates well with prospective clients and enables us to maintain a strong base of highly satisfied existing clients.”