JP Morgan’s Patrick McCullagh joins specialist alternatives firm

Patrick McCullaghPatrick McCullagh has left JP Morgan’s investor services division where he spent five years as head of private equity and real estate in Europe, the Middle East and Africa, and has joined a smaller provider, Luxembourg-based Alter Domus. McCullagh, who was with JP Morgan for six years and most recently as sales team manager for UK asset managers, pensions & insurance companies, becomes global head of sales, a newly created position at Alter Domus. Alter Domus, like other specialist private equity and real estate fund service providers, hopes to expand its business under the new regulatory regime in Europe for alternative investment managers. The Alternative Investment Fund Managers Directive (AIFMD), which was implemented this year, will require private equity and real estate providers to appoint depositary banks. In recent months, Alter Domus and IPES, another specialist fund servicer, have applied for depositary licences under the AIFMD regulations. Alter Domus has $33 billion (€24 billion) of assets under administration. According to the Funds Europe third-party administration survey published in April, Alter Domus had €17 billion of assets under administration globally at the end of 2012, and €16 billion domiciled in Europe. JP Morgan had €5.6 trillion globally, and €2.2 trillion in Europe, including non-alternative funds. ©2013 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.