10 June 2019 - Opus Fund Services today announced the official launch of its European fund administration business based in Dublin, Ireland. This follows a comprehensive application process resulting in authorisation by the Central Bank of Ireland under the Investment Intermediaries Act.
Launched in 2006, the Opus proprietary based technology offering continues to gain rapid traction. To date it has focused on the US market, adding 183 new funds across 133 new clients in 2018 alone.
Opus, which is a client of IDA Ireland’s was welcomed by Minister for Business, Enterprise and Innovation Heather Humphreys who commented “I am delighted that Opus has obtained Central Bank authorisation, which will see them open up their new European office in Dublin. Ireland is now a major player in International Financial Services and we welcome leading international companies like Opus investing here. We have the skills and talent available to help them grow and I wish them well for the future.”
Robin Bedford, global CEO commented “As we continue to scale our business, Ireland was the logical location of our European headquarters providing our existing clients with full access to the European Union. Our proprietary technology-based administration platform has been embraced by the US market resulting in our rapid growth. We look forward to deploying this offering to the local Irish market.”
The existing team of 15 professionals are based in their Baggot Street offices. Christian Pollard, regional CEO explained, “Having automated many of our back-office functions, our local hiring strategy will focus on targeting experienced fund administration professionals that can deliver a client experience previously out of reach for the average emerging fund manager.”
Mary Buckley, Executive Director of IDA Ireland said “Ireland’s offering as a leading International financial services hub within the EU continues to appeal to overseas investors looking to service their client base in this market. The international funds industry in Ireland is thriving with over €2.5 trillion domiciled here – the highest on record.”
Established in 2006, Opus Fund Services is an award-winning independent and privately-owned full-service global fund administrator providing automated and integrated middle and back office administration services to hedge funds and asset management firms. Opus has USA offices in New York, Chicago (Naperville), San Francisco (Brentwood); and internationally in Bermuda, Manila (Philippines), Halifax (Canada) and Dublin (Ireland). Opus Fund Services (Bermuda) Ltd. is licensed by the Bermuda Monetary Authority under the Investment Funds Act 2006. Opus Fund Services (IRE-Admin) Limited is regulated by the Central Bank of Ireland.