JP Morgan’s Patrick McCullagh joins specialist alternatives firm

Patrick 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

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST