Centaur Fund Services has opened a new office in Bermuda and appointed Marc Weaver to run it as COO.
The new office in Hamilton is intended to be a key strategic location for Centaur, allowing it to provide better administration services for its global clients, and particularly for those in North America.
Centaur already has offices in London, Dublin and New York, and has about $12 billion in assets under administration.
Eric Bertrand, founding partner of Centaur, said: “Centaur is excited to be expanding to this important location. Opening a full working office in Bermuda allows us to grow the services we offer clients and increase our global reach.”
He added: “I feel Bermuda will allow us to enhance our global presence and launch new products. There is a strong talent pool here, and we think we can add to our already talented team.”
Sean Moran, business development manager of the Bermuda Business Development Agency, called the new office “very positive news” for Bermuda’s funds sector.
He said: “This is the first new fund administrator to be licensed in Bermuda in a number of years, and it underscores the fact there is positive momentum in the alternative funds space here on the island.”
New COO Marc Weaver brings 15 years of experience in the fund administration space. He joins from IKONIK Fund Services where he was senior vice president, and has also held a vice president role at Citi Hedge Fund Services. He has worked in Bermuda since 2002.
Weaver said: “This is such an exciting time to be joining Centaur, which has been growing steadily year-on-year both in terms of assets under administration and the breadth of services offered.”
“I can see great potential for opportunities in Bermuda and North America, especially in areas such as private equity, family office and insurance-linked securities which are embracing the trend to outsource administration.”
Centaur Fund Services (Bermuda) Limited is now authorised as a licensed fund administrator by the Bermuda Monetary Authority.
