Vestmark, a provider of advisory solutions and wealth management technology, has expanded its office space in Jersey City.
The new office will allow the company to expand operations for the Vestmark Business Processing Outsourcing (BPO) unit.
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Vestmark provides a unified wealth management platform called VestmarkONE, a comprehensive web-based portfolio management, trading, performance measurement, client reporting, and sleeve-lot accounting platform.
The Vestmark BPO service is a separate outsourcing solution that allows broker-dealers, banks, investment managers, and advisors to outsource middle-and back-office administrative and operational functions. Vestmark BPO is provided to support firms that use VestmarkONE.
"The expansion in our Jersey City office affords us the opportunity to increase our efforts to better service our clients," said Steve Camp, Senior Vice President of Vestmark BPO. "Over the past two years, the Vestmark BPO service has experienced tremendous growth stemming from our status as a proven outsourcing provider in the wealth management industry.
The breadth and flexibility of services available through Vestmark’s BPO service allows clients to outsource as much or as little of their investment operation as needed there is no other outsourcing solution that can provide our level of flexibility. Furthermore, this expansion signifies Vestmark’s ongoing commitment to meet the needs of our clients and our interest in increasing employment opportunities in the greater New York City area."
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By GlobalData"Two years ago, based on market demand, Vestmark took the step of providing outsourced middle- and back-office services to clients of VestmarkONE," said John Lunny, CEO of Vestmark.
"The quality of the Vestmark BPO team and service offering has allowed us to capitalize on the market demand. This expansion is a testament to the success that the Vestmark BPO team has achieved over the past two years in terms of industry recognition, client satisfaction, and a rapid increase in asset under administration."
