Our move into the US represents a key milestone for the Group, as we seek to establish ourselves as a leading global provider of administration services to the alternatives industry.
Located in Philadelphia, the office is our first outside of Europe, and further enhances our service proposition for existing clients while meeting continued demand for our services internationally. We now serve over 250 alternative investment clients and administer more than $530 billion in assets across seven offices spanning Guernsey, Jersey, Luxembourg, the Netherlands, the UK and the US.
In keeping with the Group’s focus on the alternative asset classes, our US office will specialise in the provision of fund and corporate accounting and administration services to the private equity, venture capital, infrastructure, real estate and private debt sectors.
The office is headed up by Mike Wood, a senior director and longstanding employee of the Group who has been based in the Jersey office for the last 15 years, where he led a significant portfolio of global private equity and venture capital clients. Mike will be responsible for driving the development of our US presence alongside Lynne Westbrook, an American national, who has more than 20 years’ experience in-house with US fund managers and, more recently, as European lead at JP Morgan’s fund administration division.
Chief Executive Officer, Edward Moore, said: “This is a really exciting milestone for us. Many of our clients, and intermediaries who we work with closely, are based in the US or have significant operations in the region. Establishing an office in Philadelphia, a city with deep roots in financial services and in close proximity to other major financial hubs, was the next clear strategic move for the Group as we continue to grow.
“We decided to send long-standing Aztec people to take this first step on our journey to expand internationally, combining decades of experience in the alternative investments industry with the local knowledge and expertise of our US experts. This organic, client-driven growth has always been at the heart of our strategy; preserving the values and ethos of our business while maintaining the partnership-based approach our clients have come to know and expect.
“We’re very much looking forward to the next chapter and I would like to thank all of those who have played their part in the Aztec story so far.”