Credit Suisse To Outsource Fund Of Funds Admin. In Guernsey

Mar 14 2011 | 12:27pm ET

Credit Suisse is to hand over the administration of its Guernsey-based funds of hedge funds to a third-party firm.

The move will occur over the next six months and affect more than 40 employees of the bank's Guernsey fund administration business, which employs about 300 people, HedgeWeek reports. It is unclear if the departing employees will join the new administrator, which Credit Suisse declined to identify other than to say it is "one of the biggest fund of funds administrators globally."

"The outsourcing of our fund of funds administration business in Guernsey involves devolving a non-core administrative function, which is in line with our strategy to provide a core, client-oriented service focusing on offering strong investment performance to our asset management clients," a spokeswoman from Credit Suisse said.

The spokeswoman added that the move had nothing to do with Credit Suisse' impending acquisition of hedge fund administrator Fortis Prime Fund Solutions.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.