FTI Consulting Extends Fund Administration Services to Include Mutual Funds in the Cayman Islands
Cayman Islands, 12 April 2023 — FTI Consulting, Inc. (NYSE: FCN) today announced the expansion of its Fund Administration practice in the Cayman Islands to service mutual funds. Following receipt of a Mutual Fund Administrators Licence, granted by the Cayman Islands Monetary Authority (“CIMA”), FTI Consulting’s Fund Administration practice now provides administration services to both closed and open-ended funds.
Led by Managing Director Rudolf Weder, the leadership team includes Senior Managing Directors Andrew Morrison and David Griffin and Director Sean Lilley. Services offered include NAV calculations, registrar and transfer agency, cash management and payment processing, and financial statement preparation, amongst others. The business utilizes market-leading software to streamline administration functions, and to ensure clear and accurate record-keeping and investor communications. The accounting and operations teams are all based in the Cayman Islands.
The fund administration business enhances the Corporate Finance & Restructuring offering in the Cayman Islands, which has recently grown to include senior team members Yvonne Plamondon and Steve Bull, amongst several other hires.
“Since receiving our Mutual Fund Administrators Licence from CIMA on 28 March 2023, we can now provide administration services to the full spectrum of Cayman Islands-regulated investment funds,” Mr. Morrison said. “We are very proud to be adding this provision to our existing fund-focused service lines in the Cayman Islands — Corporate Finance & Restructuring, directorships and replacement manager/GP services — enabling us to provide a broad range of services for both new and existing clients.”
Mr. Weder, a Managing Director in the Fund Administration practice in the Cayman Islands, added, “Our Fund Administration practice is built on delivering the highest standards of service. The calibre of our Cayman team, combined with the global expertise and platform of FTI Consulting, means that we can provide superior services to complex funds. The Mutual Fund Administrators Licence now allows us to offer these services to a broader range of fund clients.”
Mr. Weder brings over 15 years of experience in the establishment, administration and accounting of investment funds in the Cayman Islands. Prior to joining FTI Consulting in March 2022, he was the Senior Fund Accountant for a global investor services group and a bank and trust company in the Cayman Islands, where he managed teams delivering fund administration and related services to a diverse portfolio of fund structures.
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Source: FTI Consulting, Inc.