In the latest in a series of strategic moves, designed to enhance its rapid growth in market share, Viteos Fund Services, a leading global hedge fund operations service provider, today announced the establishment of a sales, marketing and local support presence to service the U.K. and European market. The move is in response to increased client demand for a worldwide footprint for the firm's services and builds on its already established presence in North America and South Asia.
Viteos' fund administration and middle office suite of offerings, delivered on an outsourced basis, is increasingly the provider of choice for many hedge fund clients. These clients also benefit from the partnership VITEOS announced last year with Credit Suisse.
Said Dougal Brecht, Managing Director of Prime Services, Credit Suisse: "We are delighted that Viteos, a key partner of Credit Suisse's Advanced Prime Services (APS), has established a presence in Europe. They offer bespoke outsourcing solutions and operational support to hedge funds. These services are becoming an increasingly important as the European industry matures and fund managers need to create robust and flexible business platforms. We look forward to supporting them as their model provides Europe with the same level of service, technology, and expertise demonstrated to clients in the U.S. and Asia."
Said Chitra Baskar, COO of Viteos Fund Services: "VITEOS' European office is to further expand our operational footprint in serving the needs of the global hedge fund community. As our clients continue to embrace a global trading paradigm, VITEOS is there to support their new processing requirements where they leverage our domain expertise and 24x6 global delivery model."
Said Shankar Iyer, CEO of Viteos Fund Services: "Our European expansion is owing to an increased demand by clients and prospects for outsourced fund administration and middle office services. Hedge funds are increasingly frustrated with 'cookie-cutter' solutions to their unique problems. Our approach has been, and will continue to be, one in which client needs define the offering, and where we serve as a strategic partner in their business growth. We offer global coverage each day, all day. We take advantage of time zone differences and service capability to offer our clients operational and cost efficiencies not available through regionally based firms."