In the latest in a series of strategic moves, designed to accommodate its rapid growth in market share, Viteos Fund Services, a leading global hedge fund operations service provider, today announced the opening of a U.S. on-shore processing facility to further facilitate trade operations, accounting, tax, and audit support for its expanding U.S. client base. Today the firm also announces that, as it continues to expand its global coverage model, staff worldwide will be rotated through the U.S. office. Staffing for the new processing center will be derived from a combination of U.S. and offshore personnel.
The combined moves reflect the firm’s increased presence in the marketplace, and the increased demand by clients for its middle office and fund administration services, which are delivered globally on a 24x7 basis.
Said Chitra Baskar, COO of Viteos Fund Services: “Our need to expand by opening up a U.S. facility for processing is a tangible reflection of the expansion in breadth of services for our clients. Hedge funds are increasingly frustrated with ‘cookie-cutter’ solutions to their unique problems. Our approach has been, and will continue to be, one in which client needs define the offering, and where we serve as a strategic partner in their business growth. Our plans to rotate our staff between different locations will also ensure the consistency and standardization of our service levels to the market place. Such programs have proven to be of value in other global organizations, and we believe our clients and our staff will both benefit from this initiative.”