In its latest strategic move, Viteos, a leading global hedge fund administrator and operations service provider, today announced the establishment of its presence in the Asia Pacific region.
The core of the effort will initially focus on addressing the needs of the Hong Kong and Singapore investment management market. Viteos will provide its complete suite of services including fund administration, middle office, and consulting on implementation to hedge funds and family offices in the region.
Building on the success already established in North America and Europe, the expansion reflects the increased importance of bringing fund services to Asia and the Pacific Rim, given an environment where there is an increasing focus on operational efficiency.
To resource the effort, Viteos, which offers "24x5" support across asset classes, named industry veteran Jay Moghe as Vice President, Business Development, Asia Pacific. Mr. Moghe brings over a decade of experience to the role. Prior to joining Viteos he held a series of positions of increasing responsibility at: Credit Suisse A.G. Prime Fund Services; Asian Alternative Consulting; OPAM/Stork Capital Management; APS Asset Management; and Bloomberg Tradebook. Mr. Moghe heads the newly opened office in Singapore, which will be Viteos' APAC headquarters.
Shankar Iyer, CEO of Viteos stated: "Our move into APAC reflects our belief that the market for 'next generation' fund services is underserved and that our experience, expertise, technology and global reach in operations will meet the needs of the hedge fund and family office firms in the area. Jay Moghe's experience in a variety of roles and his local relationships will be critical as we build our franchise."
Jay Moghe said: "The opportunity for Viteos to provide a truly advanced offering in Asia and the Pacific Rim cannot be overstated. Given the increased emphasis on operational risk and regulatory reporting, many local players are seeking the advanced technology and global accounting skill that lie at the core of Viteos' business. Bringing these to Asia will not only build Viteos' business but help to enhance the depth of service offerings in the region."