Citco Fund Services has announced the opening of a new office in Malvern, in the suburbs of Philadelphia, as a financial reporting centre of excellence whose services will be available to
Citco Fund Services has announced the opening of a new office in Malvern, in the suburbs of Philadelphia, as a financial reporting centre of excellence whose services will be available to the firm’s clients worldwide.
David Fritz, who has been appointed as managing director of Citco (Malvern), was formerly a senior manager with Ernst & Young’s asset management practice and has worked in their New York, Cayman Islands, and Philadelphia offices.
The Malvern office will focus on the production of financial statements in accordance with applicable accounting principles. ‘Centralising the annual financial reporting process will further enhance our focus on providing accurate financial statements in a timely manner with consistent application of accounting standards,’ says Citco Fund Services director William Keunen. ‘Citco is committed to providing an enhanced level of service to our clients, as is evidenced by our formation of this office solely for financial statement production.’
Citco has more than 30 years experience in hedge fund administration, and with a global team of more than 2,000 staff has become the global leader in the provision of hedge fund services, currently administering more than 2,000 funds with net assets exceeding USD500bn.
Its services include advice on the set-up and structuring of a fund, legal and corporate services, investor relations, acting as registrar and transfer agent, accounting services, net asset value calculations and the production of financial statements.
Citco’s services for funds of hedge funds include fund administration, banking, financing, trading and custody, a comprehensive research-enabling trading platform, centralised fund of funds pricing services and reporting services specifically developed for fund of funds.
Citco Fund Services is part of the Citco Group, an independent financial services group with 48 offices in 24 countries globally that offers banking and custody services and corporate and fiduciary advisory services as well as fund administration.
