Service update: Latest moves in fund admin – April 2012

Vistra continues to deepen its global footprint while Maples Fund Services has hired a new director to increase fund administration services in Europe.

• Vistra Fund Services has undergone an aggressive expansion as of late. Most recently the group acquired FTC Trust in the Netherlands. And earlier this month Vistra planted its flag in Mauritius to target growing opportunities in the African and Indian markets, according to a statement. The moves buttress the group’s opening in Hong Kong earlier this year, its first Asia outpost.

• Professional services firm Kinetic Partners has expanded into Luxembourg, one of the world’s largest fund domiciles, with the acquisition of AB Fund Services. The new office marks Kinetic’s seventh, complimenting posts in London, Dublin, Grand Cayman, New York, Geneva and Hong Kong.

Appleby has put together a regulatory and financial services team to advise clients on regulatory matters in the Cayman Islands. The team, led by corporate partner Sherice Arman, will focus on licensing and regulatory approvals, regulatory reporting, compliance, corporate governance, and risk management.

Maples Fund Services has appointed Steve Lewis to director of European Business Development to expand the fund administration and middle-office businesses across the firm’s European offices. Prior to this appointment Lewis’ focused on sales of administration and custody services to the UK’s alternative investment market while at State Street Bank & Trust.