Apex Fund Services (“Apex”), one of the world’s largest independent fund administration companies, is pleased to announce the continuation of its growth strategy with the opening of its second US office in Miami, Florida. Apex has grown by 185% since 2009.
Apex’s US operations are currently managed from its office in New Jersey which is run by Managing Director Vince Sarullo. Vince will also have overall responsibility for the growth of the Miami office and will be joined by Thalius Hecksher, Global Head of Business Development, who will spearhead Apex’s Latin American and US marketing activity.
The US offers extensive growth opportunities for Apex with approximately 75% of the world’s alternative funds – equivalent to over 4,500 funds.
The Miami office already services funds in the Florida region where lower tax rates and other lifestyle incentives are fueling the rapid growth of the fund market in the Southern states.
Peter Hughes, Group Managing Director, Apex Fund Services Ltd., said: "Miami’s status as a leading location for US fund managers continues to rise and Apex is committed to supporting the US based fund managers locally.
“In addition, with Miami’s ‘Meeting of the Americas’ role, the new office will also be an important strategic gateway for Apex to the Latin American markets.
“The Apex model of “reach globally, service locally” enables Apex to provide managers with the highest levels of service and range of products and deliver the timely reporting that they demand. Apex is entirely focused on building close working relationships with its clients and will continue to open offices in territories wherever they locate.”
Vince Sarullo, Managing Director, Apex Fund Services (US) Inc., said: “The US fund market will benefit from Apex’s innovative approach to client servicing. With Apex’s rapid growth rate and high quality client servicing, Apex very much has the attention of US fund managers.
“The Miami office is another step towards Apex providing personalized services and linking its US clients to markets across the world.”
Thalius Hecksher, Global Head of Business Development, Apex Fund Services Ltd., said: “Miami is undeniably a growing financial hub for international fund management and is recognized as an important access point for Latin American fund managers.
“The new Apex office will serve as a strategic launch pad into LATAM where there is also growing demand for the Apex business model to expand globally.
“Being able to re-domicile funds to Luxembourg, Ireland and Malta is increasingly popular for Latin American managers and Apex provides a seamless service to achieve this.”