Cayman Islands-based Caledonian Bank & Trust Limited is to use systems and services from ADP/OMR, a division of ADP Brokerage Services Group, to provide offshore fund administration processes to the alternative investment management community.
The bank provides investment managers and corporate treasurers with a range of offshore services which include fund administration, banking, registered office, registrar and transfer agency, directorships and other high end corporate and fund advisory services.
ADP/OMR will provide the systems, service personnel and fund management technologies to service the offshore domicile requirements of its clientele.
Chris Zuech, senior vice president of client accounting, ADP/OMR, comments: "ADP/OMR now has offshore capabilities, expanding Xacct, our funds processing service bureau offering, to better meet our clients' needs."