Crederian Fund Services has announced the launch of its operations providing full-service fund administration for the alternative asset management industry from its offices in the Philadel
Crederian Fund Services has announced the launch of its operations providing full-service fund administration for the alternative asset management industry from its offices in the Philadelphia suburb of Media, Pennsylvania. Crederian is headed by two industry veterans, president and chief executive Vincent J. Ciavardini and executive vice-president and chief operating officer Gene J. Cichanowsky.
Crederian will offer full-service fund administration services to alternative investment funds, including hedge funds, private equity funds and fund of funds. The firm says it is targeting investment managers that want to focus on their core business of managing clients assets and rely on their outsourcing administration partner for timely and responsive accounting and investor reporting.
Ciavardini was most recently president and chief executive of UMB Investment Services Group, where he was responsible for overseeing the servicing of more than USD200bn in mutual fund and hedge fund assets. Earlier he spent 18 years as a senior-level executive for various PNC Financial Services Group companies, including president, chief operating officer, and director of PFPC Worldwide.
Cichanowsky was managing director of alternative investments for UMB Fund Services and held senior level positions at CMS Companies of Philadelphia, PFPC Global Fund Services in Wilmington, Delaware, and AIG Asset Management Services in New York.
Crederian is affiliated with Anchin, Block & Anchin, a New York-based accounting firm that says the alternative fund administration business is a natural outgrowth because of the depth of its financial services practice and contacts in the industry.
Joining Ciavardini and Cichanowsky on Crederian’s board of directors are Anchin associate managing partner Ehud Sadan and financial services partner Jeffrey I. Rosenthal.
‘We are excited to partner with industry innovators with the track record possessed by Ciavardini and Cichanowsky as we continue our efforts to deliver benefits to our clients and to others in the financial services community,’ says the accounting firm’s managing partner Frank Schettino.
