Private equity fund services provider Ipes has strengthened its leadership team with the appointment of funds industry heavy-weights Andrew Whittaker and Nigel Strachan.
Andrew Whittaker joins Ipes’ UK operation, which opened in 2005 and comprises over 20 staff, as Managing Director. He will be responsible for growing the business, with a particular focus on building the outsourcing practice. Andrew has extensive experience of onshore / offshore vehicles, open and closed and traditional and alternative funds. Prior to joining Ipes he was Managing Director for Capita Financial Group’s Specialist Fund Services division. Andrew also serves on the AIC Technical Committee and AREF Regulatory Committee.
In Jersey, new Managing Director Nigel Strachan will lead the St Helier based business which was established in early 2008 and has a team of nearly 20 people. He joins Ipes from Kleinwort Benson, where he was Head of New Business for Corporate Clients in Jersey. A Chartered Accountant, Nigel has more than 12 years experience in the funds industry with specific expertise in offshore structuring and the administration of private equity and mezzanine funds. Nigel is also Chairman of the Jersey Funds Association.
Ipes Group Chief Executive, Kevin Brennan says “These appointments are key to Ipes’ strategy for the continued growth of our business via the establishment of strong leadership teams in each of our locations. Both Nigel and Andrew have considerable technical expertise and knowledge of the market. Bringing individuals of their calibre on board is an important step in our development and makes a clear statement about our intention for growth in both Jersey and London.”
Strachan says “Ipes has a respected name in the funds industry, and I believe that there is a real opportunity to drive the continued growth of the Jersey based operation. I am looking forward to working with the team there and across the Group in the coming months.”
“For me this is an exciting time to join a dynamic and growing business” says Whittaker. “With regulatory pressure on fund managers intensifying there will be increased demand for quality service providers to whom they can outsource back office operations. Ipes is well positioned to pick up on this trend and there is real potential to build on its success to date”.
Ipes was established in Guernsey in 1998 and now employs over 120 people across London, Luxembourg, Jersey and Guernsey. The Guernsey business is headed up by Michel Davy and the recently launched Luxembourg business, which commenced operation last year, is led by Simon Henin.
During 2010, the firm took on 23 new mandates, despite challenging market conditions. It also moved into new office space in Guernsey and London to accommodate future growth.
“We continue to support our growth ambition with investment in these senior appointments, upgraded office locations in London and Guernsey, and further development of our platform technologies. The AIFM Directive will drive opportunity and as a key service provider, we intend to be at the forefront of meeting client needs and to maintain our reputation for delivery excellence” concludes Brennan.