Mr. Rainsford will lead the global client relationship management function and will provide clients with value added service in the areas of structuring, compliance, accounting, and tax.

Timing the expansion with signs of revival in the hedge fund marketplace, Shankar Iyer, CEO of Viteos said: "This expansion and appointment is being done with a view towards meeting the changing needs of the industry that are bound to follow a major crisis such as 2009." Mr. Iyer added: "The firm has begun various initiatives to further strengthen its presence in the industry. Increasing the depth and breadth of services and broadening the Senior Management Team are some of the steps in the direction."

Mr. Rainsford brings over 20 years experience in global hedge fund operations and accounting having served as: CFO of Balyasny Asset Management; Senior Vice President of BISYS-RK Alternative Investment Services, Inc. where he oversaw all operations; and as a partner at Rothstein Kass where he established and grew the firm's hedge fund administration practice.

Viteos also announces that it has expanded its global sales operation, with the appointment of Mr. Jonathan White, who previously served as Business Development Manager for NorthPoint Solutions and as Managing Principal of R Capital Advisors. Mr. White will head North American Sales and will be based in New York. Mr. Andrew Kaufmann will continue to drive the European Sales, and will be based in London. Robert Coates, who prior to joining Viteos has several years of experience with other industry players including JP Morgan Hedge Fund Services, Spectrum and GlobeOp Financial Services, will lead the client relationship management function for the firm's European clients.

"These hires and expansion of the management team is a further reaffirmation of our commitment to providing hedge funds with boutique services to address their changing needs arising out of market pressure and dynamic market et opportunities," said Mr. Iyer.

Taken together, the revamped sales organization and enhanced relationship management function represents a significant commitment to current client service and an expansion that has global reach.

Said Chitra Baskar, COO: "The addition of Francis Rainsford to the Executive Management team gives more depth to our US operations, strengthens the relationship management team, and helps in cementing further our delivery capability by leveraging his experience especially as we build out services in tax and compliance. We strongly believe our clients will benefit from the breadth and depth of his experience and expertise and are confident that he will spearhead the 'next stage' growth in our global franchise."

Said Francis Rainsford, Executive Vice-President: "Given recent experience and moving into the new environment for hedge funds, it will no longer be sufficient to provide fund managers with commoditized approaches to complex problems. Viteos has, since its inception, rejected such an approach, and I am convinced its approach to both the industry and to the clients it seeks to serve is the best and most innovative available today. Those words, 'best and innovative' will continue to be the drivers for Viteos as it continues to be responsive to client demand in a highly complex operating and competitive environment. Having spent a few weeks understanding the Viteos model, I am excited to be a part of Viteos - which has built world class technology and a high caliber group."