San Francisco-based fund administrator Conifer Fund Services is to open a fund administration office in Halifax, Nova Scotia, as part of its strategy to grow in North America.
Halifax was selected over competing locations based on Nova Scotia’s nearshore advantages including cost, proximity to clients, and access to skilled talent.
“We chose Halifax for our strategic growth plan,” said Jack McDonald, president and CEO of The Conifer Group. “Halifax will become our key centre for hedge fund administration because it has a highly educated and skilled labour force, low staff turnover, and a high quality of life.”
According to KPMG, Halifax is the fastest growing hedge fund administration centre in Canada. In KPMG’s Competitive Alternatives 2012 Report, Halifax ranks number one out of all Canadian and US cities surveyed for lowest business operating costs in the International Financial Services sector.
