Noel Fessey, formerly head of Schroders’ largest operations team outside of London, is to become CEO of European Fund Administration (EFA), a third-party fund administrator in Luxembourg.
Fessey will take over from Thomas Seale, who is to retire after two decades in the role.
Fessey joined Schroders in 2000 and was managing director of Schroder Investment Management (Luxembourg) between 2003 and 2016.
He was also Schroders' global head of fund services since 2005 and chief operations officer of Schroders' product division since 2016.
Rafik Fischer, chairman of EFA's board, said EFA owed a “debt of gratitude” to Seale and that Seale and Fessey would work together over the next few months to ensure a smooth handover.
EFA has 190 clients and covers 2,202 funds with €109 billion of assets.
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