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Former Multifonds CEO strikes tech deals

technology, specialist fund administrationTrustQuay, a tech firm in the specialist fund administration sector, has signed technology deals with four service providers.

Fund administrators and trust providers including Treuco and Crystalserve Fiduciary Services are to put in place new administration and accounting platforms.

The firms, including another two, work in trust, corporate and fund services across countries including Switzerland, Cyprus and Mauritius, said Keith Hale, chairman.

Hale is a former chief executive of Multifonds, an investment funds software provider in Luxembourg that was sold in 2015 to Temenos.

Hale added that TrustQuay research among 90 wealth managers, private banks, fund administrators, trust and corporate services providers showed three-quarters expected the impact of Covid-19 to be short-term.

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