INDOS Financial, the independent Alternative Investment Fund Management Directive (AIFMD) depositary business, has made two senior advisory and management appointments.

Des Quigley, former Managing Partner of Ernst & Young Ireland, has been appointed non-executive director.

Paul Whelan, Head of Depositary Services, will join on 1 November 2013 from BNY Mellon Trust Company (Ireland) Limited.

Bill Prew, Founder and CEO of INDOS Financial, says: “We are very excited that Des has joined our board as non-executive director and that Paul will join our management team. Together they bring considerable financial services, hedge fund and trustee expertise to the business. These appointments come at an important time for Indos as we continue to build out our independent depositary oversight solution for hedge fund managers looking for a pragmatic and flexible way to comply with the new AIFMD depositary-lite requirements. We will announce further key hires over the coming weeks.”

Quigley is a non-executive director of a number of investment funds and financial services companies. From 1995 to 2010 he was head of the Financial Services Group at Ernst & Young in Ireland. His clients were mostly in Asset Management and he was a founding member (and past chairman) of the E&Y Global Hedge Fund Committee. From 1988 to 1994 Quigley served two terms as Managing Partner of E&Y Ireland and was also a member of the Ernst & Young International Council. Quigley was appointed partner of Ernst & Whinney in Ireland in 1977. He is a chartered accountant and is a Fellow of Chartered Accountants Ireland.

Whelan will join as Head of Depositary Services on 1 November 2013. He will join from BNY Mellon where he was Vice President with responsibility for running the Trustee department in their Wexford office from 2008 to 2013. Whelan’s client base exceeded USD25 billion in assets under management across UCITS and hedge fund structures. Prior to joining BNY Mellon, Whelan spent over 9 years from 1999 to 2008 in fund accounting roles most recently as a senior manager with BISYS Hedge Fund Services and PNC International Investment Servicing.


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