Guernsey Press

Ipes can now provide services to Luxembourg and Ireland

OUTSOURCED private equity services provider Ipes has been authorised to provide fund administration services in Ireland and depositary services in Luxembourg.

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IPES chief executive Chris Merry.

The authorisation by the Central Bank of Ireland enables Ipes (Ireland) Ltd to provide full administration services to collective investment schemes and alternative investment managers in Ireland – including fund administration, financial reporting, company secretarial and management support services.

Ipes – which is headquartered in Guernsey – has 35 staff based in Cork and expects the business to grow significantly in the next 12 months.

Meanwhile, Ipes (Luxembourg) has been has been granted a depositary licence by the Commission de Surveillance du Secteur Financier – complementing the firm’s established depositary services in London.

The 20-strong workforce in Luxembourg is also predicted to grow over the next year.

‘We are delighted to have reached this milestone in Ireland,’ said Ipes chief executive Chris Merry, pictured.

‘Cork is our fastest-growing office. We have already developed a centre of excellence for accounting in Cork.

‘This authorisation enables us to widen our service offering in Ireland and enhance our EU-based funds capability.’

He added: ‘All our staff have been recruited locally and we believe that Cork has the talent pool and skilled workforce to support our expansion and continue our growth in Ireland.’

On the Luxembourg licence, Mr Merry said: ‘The extension of our depositary offering to Luxembourg was a natural progression for us, enabling us to provide our clients with the widest possible scope of services.

‘We have strong interest in our depositary services in Luxembourg and we are delighted we can now move forward. With Brexit approaching, Luxembourg now offers our clients a European solution.’