LONDON (HedgeWorld.com)–UBS’s hedge fund services division has opened an office in Dublin, Ireland. The new UBS Fund Services shop will be headed by Mark Mannon. It will employ 10 people, with plans for expansion, according to a UBS statement.
The office will administer both onshore and offshore hedge funds with technological services that include web-based reporting. “Dublin has established itself as the leading fund administration center in Europe, with US$200 billion in hedge fund assets being serviced” said Mr. Mannon in the statement. “It made sense for us to locate an administration unit where most of the business is routed.”
UBS Fund Services, with a base in the Cayman Islands, is part of UBS AG and provides administration for 960 funds, with total assets of US$60 billion and services split between in-house and external providers. The company provides global custody and settlement services in addition to administration.