Providence, a US-based financial services firm, has completed the acquisition of Guernsey-based Fund Corporation and renamed it as Lumiere Fund Services.
Also, the firm has doubled its workforce on the Island as well as opened a new office in Guernsey as its international administration headquarters since acquiring Fund Corporation in September this year.
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The new office will consist of Lumiere Fund Services as well as Providence’s own global administration team.
Lumiere Fund Services will provide outsourcing fund administration services for asset and investment managers.
Paul Everitt, co-founder of Fund Corporation, has assumed a dual role as CEO of Providence Global and non-executive chairman of Lumiere.
Roger Parry, a co-founder of Fund Corporation and managing director of Lumiere Fund Services, said: "When Providence announced its acquisition of Fund Corporation it made clear that it was committed to growing the fund administration side of the business as a separate division within the Providence group and supporting our entrepreneurial drive."
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