Bermuda Welcomes Global Fund Administrator
Centaur Fund Services opened for business this week in Hamilton, Bermuda. Already domiciled in London, Dublin and New York, the firm with $12 billion in Assets Under Management will use the island as a strategic base from which to service its global clients.
“Bermuda’s location makes doing business with the US ideal,” said founding partner Eric Bertrand. “I feel Bermuda will allow us to enhance our global presence and launch new products. There is a strong talent pool here, and we think we can add to our already talented team.”
“Numerous asset managers have been setting up in Bermuda over the last few years, and the insurance-linked securities market has also skyrocketed. There is still room for growth and we certainly want to be part of it. We have a lot of relationships worldwide and being in Bermuda will help us strengthen those relationships.”
A key component of Centaur’s expansion to Bermuda was the Bermuda Business Development Agency’s (BDA) role as concierge. The agency guides firms through the process, from initial conversations about the island’s current financial services industry, to introductions to key government and private sector players, to connecting firms with vendors to get their offices up and running.
“Everyone was very welcoming as we worked to set up a new business, including the island’s high-quality service providers,” said Bertrand, thanking Oyster Consulting (Bermuda), Cox Hallett Wilkinson, Frontier Financial Services and Fireminds Technology Solutions. “Less than eight months later, we are an operational fund administrator regulated by the BMA.”
Oyster Consulting (Bermuda) provides comprehensive compliance, operational, and cost-effective consulting to financial services and related firms. Our team of industry professionals brings highly-integrated industry knowledge and deep functional expertise to help our clients protect and grow their business. To learn more about how we can help your firm meet their regulatory obligations and set up a licensed business in Bermuda, please contact Alison Morrison, Managing Director, Oyster Consulting (Bermuda) at firstname.lastname@example.org.
For more information about the BDA, contact Rosemary Jones — Communications Manager