23 May 2017
Reporter: Stephanie Palmer
MainstreamBPO to expand in Europe and Cayman through Trinity acquisition
MainstreamBPO has entered into an agreement to acquire Trinity Fund Administration in Dublin and the Cayman Islands.

The acquisition is intended to complement MainstreamBPO’s existing operations, and to improve its capabilities in the two fund domiciles. It will also allow the group to move into European fund product markets, allowing them to provide services for regulated UCITS and non-UCITS products.

Trinity, which is currently privately owned, provides administration, transfer agency, risk and regulatory reporting and other ancillary services to around 140 funds in various jurisdictions.

It provides services and administration to around $7 billion in assets.

Trinity’s 30 staff members will all join MainstreamBPO, which founder and CEO John McCann will join the executive team as CEO of European and Cayman operations.

McCann said: “We are very pleased to become part of the MainstreamBPO group, whose cultural fit is strongly aligned to our own. This is a very exciting milestone for Trinity as the combined group will provide numerous opportunities for business expansion and our staff, while allowing us to continue to focus on delivering outstanding committed service and putting the client first.”

Martin Smith, CEO of MainstreamBPO, said: “The addition of Trinity’s group of companies to MainstreamBPO means we now have an established footprint in two more leading fund domiciles—the $2.2 trillion Irish funds market and $5.7 trillion Cayman fund market—to support our global cross-border client strategy.”

The acquisition is expected to be completed in July 2017, subject to various regulatory approvals.

More fund services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Lombard Risk dominates Canada with new mandate win
18 July 2017 | London | Reporter: Drew Nicol
Lombard Risk Management has tightened its grip on the Canadian banking market with another major bank signed up to its flagship Colline collateral management solution
UBS secures Chinese private fund management license
14 July 2017 | Hong Kong | Reporter: Barney Dixon
UBS Asset Management has been granted a private fund management license from the Asset Management Association of China
AIMA launches updated guide to fund admin services
13 July 2017 | London | Reporter: Stephanie Palmer
The Alternative Investment Management Association has published a new guide to fund administration, aimed at alternative managers choosing between providers
Falcon group launches blockchain asset management service
12 July 2017 | Zurich | Reporter: Stephanie Palmer
Falcon Group has become the first Swiss private bank to offer a blockchain asset management solution, through a partnership with Bitcoin Suisse AG
Bravura wins Scottish Friendly mandate
12 July 2017 | Glasgow | Reporter: Stephanie Palmer
The Scottish Friendly Assurance Society, UK mutual life office, has gone live with the Bravura Solutions Sonata administration platform, for its life and pensions business
Private debt added to SimCorp Dimension
10 July 2017 | London | Reporter: Stephanie Palmer
SimCorp has added a private debt module to its SimCorp Dimension investment platform, in partnership with Danish pension fund PKA
Citi launches big data platform for custody and fund services
30 June 2017 | New York | Reporter: Katherine Brown
The platform concentrates on data analyses across Citi custody and fund services products and will be broadened to include investor services
More fund services news