01/02/2012 Author: Will Wainewright

Fund admin firm Viteos opens Singapore office

Fund administration firm Viteos has opened a Singapore office, becoming the latest service provider to establish a presence in the region.

Jay Moghe, who has worked in Asia-Pacific for 16 years, has joined from Credit Suisse to head up the office.

Viteos, which services single manager hedge fund assets worth nearly $10bn, has already picked up one client in the region, while another two deals are currently being worked on.

Moghe told HFMWeek the financial services industry in Asia-Pacific was maturing, leading to a demand for enhanced service provision.

“Hedge fund managers there are looking for nimble providers who can offer a flexible service, along with the transparency to help them meet regulatory and other challenges,” he said.

“Our move into Asia-Pacific reflects our belief that the market for ‘next generation’ fund services is under-served,” said CEO Shankar Iyer.

“Jay Moghe’s experience and his local relationships will be critical as we build our franchise,” he added. The new office opens officially this week and becomes Viteos’s seventh worldwide, joining those in London, the Cayman Islands and two each in the US and India.