Pittsburgh, Pa.-based Confluence, an investment data management specialist, has hung its shingle in Dublin, Ireland.
The firm cited increased demand for data automation stemming from regulatory changes like the EU's Alternative Investment Fund Manager Directive for the expansion. Confluence's European presence now includes Dublin, London and Luxembourg.
Said Skip Smith, Confluence COO, in a statement: “Ireland is a financial gateway to the global fund industry and it was a natural next step for our business to open an office in one of the international fund jurisdictions. The Irish funds industry supports an innovative business environment within a renowned regulatory landscape and Ireland’s status as an international hub for the funds industry is deserved.”
Confluence automates fund administration and reporting processes—such as regulatory reporting, financial statement preparation and performance reporting—for a wide array of collective fund investment types.