Empaxis Data Management, a provider of middle and back-office outsourcing for investment management firms, has expanded into the European market by opening an office in London and launching Empaxis Europe Limited.
Empaxis Europe will be managed Stefano Nocera, who has joined Empaxis from Azure Wealth in London.
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Nocera worked as head of technology at Azure Wealth and also as operations supervisor at Coverstor (now Interactive Brokers), where he was responsible for building an investment service and designing a reconciliation process.
Empaxis provides back-office operations outsourcing, reconciliation, and custom services for the asset management industry including hedge funds and family offices.
Empaxis CEO Stephen Van de Wetering said: "Many of our clients turned to outsourcing because it’s cost effective and allows the firm to focus on its core business, but there are other strategic advantages. For many, it’s about scalability and creating a level of redundancy."
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