Fortis has made a series of appointments to its fund services and prime brokerage divisions.
In New York, Michael J. Scanlon has joined Fortis Fund Services as Managing Director, Marketing and Sales (US).
Prior to joining Fortis Mr. Scanlon was a senior sales and marketing executive for Banc of America's Prime Brokerage business, based in New York. He is a 13-year Wall Street veteran in the institutional investment marketplace.
Mr. Scanlon was responsible for all aspects of prime brokerage client relations, retention and new business development while at Banc of America. Major activities included developing marketing strategy, direct client contact and account maintenance, as well as the creation and implementation of industry seminars in major US cities on a variety of alternative investment subjects.
Mr. Scanlon will be responsible for expanding the global fund administration business in the US for Fortis. He will lead the US marketing and sales efforts of the seven strategically located Fortis administrative offices through the New York office.
Fortis has also strengthened its prime brokerage division. Michael Romanek and Samuel Lee have joined Fortis' PrimeBanking group in London and Hong Kong respectively.
Mr Romanek (35), Director of Sales & Client Relationships, is taking up the sales efforts for Hedge Funds and Fund of Funds Europe. He previously worked as business development manager for YesTrader in London and as business developer for the UK Representative Office of Deutsche Börse in London.
Mr Lee (33), Manager of Sales & Client Relationships, worked as a derivatives proprietary trader for Fortis Global Arbitrage and Morgan Stanley Dean Witter in Hong Kong prior to joining Fortis Prime Fund Solutions. In his new role, Mr Lee will focus on the sales effort to the growing Hedge Funds and Funds of Funds industry in the Far East.
Background Note: Fortis provides an integrated package of services to leveraged funds and fund-of funds. These products are unrelated to brokerage and research facilities. Based on its experience with offshore activities, fund administration, financing trading positions, clearing transactions, safekeeping portfolios and covering short sales, Fortis offers a "one-stop shopping" facility for a fund's administrative and financing needs.
Fortis also provides assistance with the establishment and set-up of new funds and structures, onshore and offshore. Globally, Fortis administers over 1,400 funds with net-assets in excess of US$100 billion, from seven key locations: Ireland, Luxembourg, Isle of Man, Hong Kong, Cayman Islands, Curacao and the Bahamas. Marketing & Client Relationship representatives are also located in New York, London and Tokyo.
Fortis' clients also have access to a full range of global custody, securities lending, banking and financing services through its international banking network.
The combined services are offered under the name Prime Fund Solutions and can be individually tailored to meet the specific requirements of each Fortis client.