Viteos Fund Services Ltd., a global hedge fund operations service provider, has opened a Cayman Islands office and reached 80 employees worldwide with further expansion of its operations in Bangalore, India, to support rapid business growth.
The launch of a dedicated Cayman operation enables Viteos to offer high quality offshore fund administration service to its existing and potential offshore fund clients.
‘Our new Cayman facility is in direct response to client demand as approximately 80 per cent of the world’s hedge funds are registered with the Cayman Islands Monetary Authority and we identified the need to have our own local presence to complement our Bangalore, India-based processing centre within our global delivery model,’ said Shankar Iyer, CEO of Viteos Fund Services Ltd.
Viteos is a Cayman Islands exempted company licensed with the Cayman Islands Monetary Authority.
Leading the fund administration team in Cayman is Derri Lee, senior manager of Investor Services, offering 10 years of Cayman-based experience in offshore investment funds, previously with Fortis Bank (Cayman) Ltd. and Deutsche Bank. Ms Lee is the recipient of the Cayman Islands Bankers Association Award in 1997. Her professional certification includes the Associate of the Institute of Chartered Bankers. She will be responsible for overseeing Viteos’ hedge fund capabilities in Cayman, offering end to end middle office, accounting and administration services, reporting to Viteos’ management team members Chitra Baskar, head of Financial Services, based in the US, and H. Nagaraj, head of Operations, based in India.