Maples Fund Services has opened an office in Boston to expand its North American presence. Boston will be a full-service office catering to both U.S. domestic and offshore funds looking to be serviced by a Maples Fund Services team physically present in the United States.
MaplesFS said the office will give the firm access to a tight-knit community of hedge fund, fund of hedge fund and private equity managers in Boston, and it also improves its ability to be closer and more accessible to clients and their investors across the U.S. market.
In addition, the team will bring the firm’s experience in servicing family offices, pension plans, endowments and foundations and institutional investors to the Boston market.
“On the back of our recent strategic acquisition in Asia, we are extremely positive about the continued global expansion of our fund administration business through the opening of the Boston office,” Scott Somerville, CEO of MaplesFS, said.
Jason Brandt, regional head of Fund Services – North America, is running the Boston office and will continue to have management responsibility for the entire North American fund services business.
Domenic Rinella, senior vice president, and Josh Poirier, vice president, have joined the team in Boston to focus on client relationship management.
“We believe there is significant long-term opportunity in this market segment. Our Boston office will provide us further opportunity to diversify our service offering with universities, endowments, family offices and private equity firms, which are heavily concentrated in Boston,” Mr. Brandt said. “A Boston presence increases business development flexibility in targeting clients who want a local U.S.-based administrator and it also provides us with the ability to work more closely with onshore law firms and service providers.”