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Apex Group boosts digital banking arm with hires

Alistair_StuartApex Group, a specialist fund administrator, has ramped up its digital banking arm – which includes services for asset managers - with three hires.

Alistair Stuart, formerly chief operating officer at Investec Bank, joins Apex as head of digital banking.

Ankit Shah, formerly head of investments and treasury at Qatar Insurance Company subsidiary, QIC Global, joins as digital banking head of business development. Shah also has funds experience from a previous role at Axa Investment Managers.

The third appointment is of Neale Croutear-Foy, formerly of First Abu Dhabi Bank, as chief technology officer in the digital banking arm.

Apex Group delivers its banking services, including the digital banking platform, via subsidiary European Depositary Bank (EDB). EDB provides traditional custody, depositary and banking services to institutional investors, asset managers, management and administration companies, and the firm said planned enhancements to EDB this year will “disrupt” the corporate banking sector by delivering a “secure, fast and digital solution” for corporate clients.

Peter Hughes, CEO and founder of Apex Group, said the appointments herald a “significant shift in the way asset managers approach and undertake their corporate banking”.

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