Key Takeaways
- • Citco, which describes itself as the leading asset servicer for the alternative investment industry, has opened a new office in Dallas, Texas, to expand its alternative asset servicing capabilities in Texas and the surrounding region.
- • The Dallas office will act as a regional hub offering middle- and back-office services, including treasury and loan services, NAV calculations, investor services, corporate services and regulatory reporting.
- • Citco cites Dallas' growing alternative investment ecosystem, talent pool and business-friendly environment as the rationale for the location.
- • Claudia Bertolino, Head of Private Market Services at Citco Fund Services, says the office will build on Citco's automation and scalability model and give clients access to its global office network.
- • Alan Curran, Head of Citco's Dallas Office, describes Dallas as one of the most significant and fastest-growing financial hubs in the US.
Summary
The Citco group of companies (Citco) has announced the opening of a new office in Dallas, Texas, according to a Business Wire press release. The company describes itself as the leading asset servicer for the alternative investment industry and says the expansion strengthens its alternative asset servicing capabilities and supports current and prospective clients in Texas and the surrounding region.
The Dallas office is designed to serve as a regional hub for middle- and back-office operations. Services offered from the location include treasury and loan services, net asset value (NAV) calculations, investor services, corporate services and regulatory reporting. Citco attributes the choice of Dallas to its emergence as a key financial center, its growing alternative investment ecosystem, a robust talent pool and a business-friendly environment.
Claudia Bertolino, Head of Private Market Services at Citco Fund Services, said the company is the world's largest organically grown asset servicer in alternative investments. She said the Dallas operations will build on Citco's model of automation and scalability and its ability to be nimble, with the aim of supporting alternative asset managers in Texas and the wider region using Citco's service range, technology and global office network.
Alan Curran, Head of Citco's Dallas Office, said Dallas is becoming one of the most significant and fastest-growing financial hubs in the US, and cited access to a growing base of skilled talent and proximity to clients in Texas. He said Citco is committed to investing in talent and providing the tools needed for staff to succeed.
The release notes that Citco is a network of independent companies with over $2 trillion in assets under administration and operations in 36 countries. Its Fund Services companies offer middle- and back-office services including tax and financial reporting in addition to the services listed for the Dallas office. The press release does not disclose headcount, investment or lease figures for the Dallas office.
The Dallas office is designed to serve as a regional hub for middle- and back-office operations. Services offered from the location include treasury and loan services, net asset value (NAV) calculations, investor services, corporate services and regulatory reporting. Citco attributes the choice of Dallas to its emergence as a key financial center, its growing alternative investment ecosystem, a robust talent pool and a business-friendly environment.
Claudia Bertolino, Head of Private Market Services at Citco Fund Services, said the company is the world's largest organically grown asset servicer in alternative investments. She said the Dallas operations will build on Citco's model of automation and scalability and its ability to be nimble, with the aim of supporting alternative asset managers in Texas and the wider region using Citco's service range, technology and global office network.
Alan Curran, Head of Citco's Dallas Office, said Dallas is becoming one of the most significant and fastest-growing financial hubs in the US, and cited access to a growing base of skilled talent and proximity to clients in Texas. He said Citco is committed to investing in talent and providing the tools needed for staff to succeed.
The release notes that Citco is a network of independent companies with over $2 trillion in assets under administration and operations in 36 countries. Its Fund Services companies offer middle- and back-office services including tax and financial reporting in addition to the services listed for the Dallas office. The press release does not disclose headcount, investment or lease figures for the Dallas office.
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