Citco Expands To Shanghai

Mar 11 2011 | 11:56am ET

Hedge fund administrator Citco Fund Services has opened its first office in mainland China.

The new Shanghai base already employs 80 staffers, thanks to Citco's strategic alliance with fellow administrator OpHedge Investment Services, which already has an office in the city. Citco has also placed Jeff Li, formerly OpHedge's top man in Shanghai, at the head of its own effort.

Citco, which has $650 billion in assets under administration, already has Asia-Pacific offices in Hong Kong, Singapore and Sydney, Australia.

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