Maitland hires ManCo executive in expansion drive

Handshake_3Maitland, a fund administration firm, has expanded its Luxembourg ‘ManCo’ team and said it plans to cover other fund domiciles in the near future.

Greg Kok joins as head of the firm’s third-party ‘management company’, or ManCo, business in Luxembourg.

Third-party ManCos, sometimes called “rent-a-mangers”, allow fund firms to outsource their legal management companies that are required by regulations such as the Alternative Investment Fund Managers Directive.

Kok joins Maitland from MPL Management in Luxembourg where he was managing director, and has also worked with HSBC, Franklin Templeton and FundRock.

Jim Clark, a managing director at Maitland, said the firm had “strong aspirations” to grow its ManCo business in the European fund market and that it would be expanded beyond the Guernsey, Luxembourg and the UK funds centres “in the near future”.

Earlier this year, consultancy PwC found that AIFMD ManCo’s now outnumbered traditional Ucits funds in Luxembourg.

©2017 funds europe