Ascent appoints former Apex MD
Fund administration services firm Ascent Fund Services has appointed Eric Koolen from Apex to lead its Australian expansion.
Koolen was formerly managing director at Apex Group Australia, which recently won a bidding war against SS&C to acquire Mainstream Group.
Ascent, which was based in Singapore, was looking to expand in Australia as it felt this consolidation and takeover activity among funds services groups presented the “perfect opportunity”.
It was also seeking to list on the Australian Securities Exchange (ASX) in the next two to three years.
Omar Taheri, Ascent chair, said: “Consolidation in the Australian fund services market is leading to less competition and lower service levels. We see demand from local funds managers for customised services which they don’t get from the larger global players”.
AUTHOR
Laura Dew
Recommended for you
JANA Investment Advisers has made several internal promotions and new appointments across its research team to bolster its position in the market.
SQM Research’s former head of research, Rob da Silva, has joined an investment consulting and analytics firm to drive the expansion of its research coverage.
AFCA has confirmed its chief operating officer, Justin Untersteiner, will be departing the organisation in March to take up a CEO role.
Minister for Financial Services, Stephen Jones, has announced he will be retiring at the upcoming federal election.
