Elian hires depositary specialist

Elian, formerly known as Ogier Fiduciary Services, appointed Kerstin Lindgren to its funds depositary team.

The fund services provider was granted a licence to provide professional depositary services from its Luxembourg office last month. Elian launched its first depositary service in the UK following approval by the Financial Conduct Authority in July 2014.

Lindgren’s main focus will be to develop Elian’s depositary business for alternative investment funds, including private equity. She was previously head of custody services at SEB, a Nordic custodian.

Elian’s depositary services include cash flow monitoring, the safekeeping of non-custody assets and oversight of funds authorized under the Alternative Investment Fund Managers Directive (AIFMD) to ensure it is managed in accordance with its LPA and other governing documents.

Managers authorized under the directive are required to appoint a single independent depositary for each AIFMD-supervised fund under management.

Elian is already observing “strong interest” in its Luxembourg depositary offering, said in a statement Elian managing director Paul Lawrence.