DUBLIN, Ireland - Opus Fund Services on Monday officially launched its European fund administration business.
The launch follows a comprehensive application process resulting in authorisation by the Central Bank of Ireland under the Investment Intermediaries Act.
The new operation will be headquartered in Dublin.Established in 2006, the Opus proprietary based technology offering continues to gain rapid traction. To date it has focused on the U.S. market, adding 183 new funds across 133 new clients in 2018 alone.
"I am delighted that Opus has obtained Central Bank authorisation, which will see them open up their new European office in Dublin. Ireland is now a major player in International Financial Services and we welcome leading international companies like Opus investing here," Minister for Business, Enterprise and Innovation Heather Humphreys said Monday.
Robin Bedford, global CEO said: "As we continue to scale our business, Ireland was the logical location of our European headquarters providing our existing clients with full access to the European Union. Our proprietary technology-based administration platform has been embraced by the US market resulting in our rapid growth. We look forward to deploying this offering to the local Irish market."
The existing team of 15 professionals are based in their Baggot Street offices. Christian Pollard, regional CEO explained, "Having automated many of our back-office functions, our local hiring strategy will focus on targeting experienced fund administration professionals that can deliver a client experience previously out of reach for the average emerging fund manager.
"Mary Buckley, Executive Director of IDA Ireland said "Ireland's offering as a leading International financial services hub within the EU continues to appeal to overseas investors looking to service their client base in this market. The international funds industry in Ireland is thriving with over €2.5 trillion domiciled here, the highest on record."
Established in 2006, Opus Fund Services is an independent and privately-owned full-service global fund administrator providing automated and integrated middle and back office administration services to hedge funds and asset management firms.
Opus has U.S. offices in New York, Chicago (Naperville), San Francisco (Brentwood); and internationally in Bermuda, Manila (the Philippines), Halifax (Canada) and Dublin (Ireland). Opus Fund Services (Bermuda) Ltd. is licensed by the Bermuda Monetary Authority under the Investment Funds Act 2006.
Opus Fund Services (IRE-Admin) Limited is regulated by the Central Bank of Ireland.