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Spectrum Announces Hires

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CHICAGO (–Spectrum Global Fund Administration LLC has hired two new officials and shifted another executive into its sales team in response to a growing client base.

Steve Richard and Tim Osborne were hired to help manage the firm’s outsourcing group. Mr. Richard was the director of mutual fund administration for Investors Bank & Trust where he grew the mutual fund administration assets from US$10 billion to US$200 billion. Mr. Osbourn also was a director at Investors Bank & Trust and was a contributor to the development of the firm’s mutual fund administration group.

As part of the personnel changes, Gary Taylor will join Spectrum’s four-member sales team. Mr. Taylor had been a director of Spectrum’s outsourcing group and joined Spectrum in August with experience as a manager at Enron Corp. in derivative risk controls, structuring and marketing.

Spectrum Global Fund Administration formerly was Spectrum Synergetic Systems and took on an expanded business line in administration of hedge fund, funds of funds and family office assets in 2002. The firm launched its Virtual COO software in 2001 Previous HedgeWorld Story. The software allows clients to handle back office work from the straight-through processing of trades through to Internet-based client reports.

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