Ipes Guernsey has grown its senior operational team with the appointment of Craig Long as Client Director.
Craig’s appointment comes in response to the continued growth of the Guernsey business, which has taken on eight new mandates during Q1 2011 and moved into larger premises at the end of 2010. As Client Director, Craig will play a lead role in managing and developing a number of the firm’s key client relationships. He also takes on overall responsibility for client accounting and reporting matters.
“Ipes has a really strong reputation in the private equity industry and this, combined with the firm’s successful growth in Guernsey and other jurisdictions, attracted me to the role” comments Craig Long. “It is also an exciting time to come to Guernsey as the jurisdiction is attracting a high volume of new business and continues to build its reputation as a leading international finance centre.”
Craig, who joins Ipes from the Private Equity Department of Northern Trust in Jersey, has more than nine years of financial services experience, with specific expertise in fund accounting. He previously worked for Standard Bank in Jersey and originally qualified as an accountant with Ernst & Young in South Africa.
Michel Davy, Managing Director for Ipes Guernsey, says “We are delighted to welcome someone of Craig’s calibre to the business. His background in fund accounting will be of particular benefit as we are seeing increased demand from both new and existing clients in this area. Ipes has secured several significant new mandates year to date, a trend we expect to continue throughout 2011.”
Ipes’ growth mirrors that of Guernsey’s fund industry which recently recorded its sixth consecutive quarter of growth. According to the latest statistics issued by the Guernsey Financial Services Commission, during the final quarter of 2010 the net asset value of funds under management and administration in the Island reached a new record high of £257.4 billion, an increase of 39.7% on December 2009 .
Ipes was established in 1998 and today employs a team of over 120 professionals across offices in Guernsey (where more than 80 people are based), Jersey, London and Luxembourg. The firm is ranked sixth globally based on Private Equity assets under administration by ICFA magazine and second in Guernsey by Lipper Fitzrovia in the 2010/2011 Fund Encyclopaedia.