| HedgeServ to expand Dublin office, adding 300 jobs |
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HedgeServ, the US hedge fund administrator founded by Jim Kelly formerly of International Fund Services in 2007, is expanding its Irish operations admitting that growth in its Dublin office has 'exceeded all expectations'. HedgeServ, having already expanded its headcount in Dublin by 150 people in the past twelve months, has announced plans to add a further 300 jobs in Dublin. The company currently employs 230 people in Dublin and its plans for further expansion.
HedgeServ's ambition for the Dublin operation was apparent when, in 2008, the company, employing about 20 people in Ireland at the time, leased 3,108sq m (33,454sq ft), in 75 St Stephen’s Green (15,000 sq. ft. is estimated to fit up to 150 staff) with market sources believing that it was taken out on a 25 year lease with no break options.
Kelly was the founder and CEO of International Fund Services, which at the time of the company's sale to State Street in 2002 was the largest hedge fund administrator in the IFSC, employing 250 people. Prior to founding IFS, Kelly was a co-founder of Moore Capital Management (MCM), vice president at Drexel Burnham Lambert and a manager in KPMG Peat Marwick’s audit division.
Speaking on the expansion Kelly highlighted the role played in the firm's success by its IFSC operations, 'HedgeServ’s growth in Dublin has exceeded all expectations and we are delighted to have been able to hire an additional 150 staff over the last 12 months. Our fast-paced development in Dublin reflects our commitment to answering the global demand for HedgeServ’s innovative, high-quality fund administration services.’
HedgeServ services over $130 billon of client assets under administration. |
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