Empaxis Data Management, experts in middle and back-office outsourcing for investment management firms, recently announced expansion into the European market. Empaxis has opened an office in London and has launched Empaxis Europe Limited.
Empaxis delivers back-office operations outsourcing, reconciliation, and custom services for the asset management industry including hedge funds and family offices. Investment management firms turn to outsourcing their operations because it's challenging to retain high caliber personnel who have expertise with the software and tools required to deliver the efficiencies and accuracy necessary for today's complex compliance and security requirements.
"Outsourcing is not a new concept, but for many in investment management in Europe, it's relatively unknown," explained Stephen Van de Wetering, Empaxis CEO. "Many of our clients turned to outsourcing because it's cost effective and allows the firm to focus on its core business, but there are other strategic advantages. For many, it's about scalability and creating a level of redundancy. Think about the risk that comes with having only one or two key employees who are vital to the firm's day-to-day operations. What happens if that employee suddenly decides to leave or has a medical issue that takes them away from the office for more than a week or two. That's a risk many firms simply can't take," added Van de Wetering.
Empaxis has also appointed Stefano Nocera to direct the European operations. Nocera comes with deep operational experience in the industry. Prior to joining Empaxis, he was Head of Technology at Azure Wealth LLP in London. He also served as Operations Supervisor at Coverstor (now Interactive Brokers) where he contributed to building a pioneering investment service and designing a reconciliation process.