GUERNSEY, 10 April 2014 – Ipes, one of Europe’s leading providers of fund administration and outsourcing services to the private equity industry, has announced the appointment of Chris Merry as Chief Executive Officer from 14 April 2014.
Chris Merry is an experienced CEO, having held leadership roles for over 20 years in a range of financial and professional services businesses, including PricewaterhouseCoopers, Clifford Chance and Whitehead Mann. Most recently, he served as CEO of RSM Tenon, where he successfully stabilised and repositioned the business for growth, ahead of its sale to Baker Tilly in 2013.
This appointment comes during a period of significant growth for Ipes, which was backed in August 2013 by European private equity firm Silverfleet Capital in a £50 million buyout. Under Chris Merry’s leadership, the business will continue to prioritise industry-leading service levels, whilst also seeking to support its clients with new and complementary services in the wake of increasing regulation such as AIFMD, FATCA and Dodd-Frank. Ipes launched a new depositary service in July last year in response to recent AIFMD regulation, and is now the leading provider of depositary services to the private equity community with over 20 mandates won.
The current Chief Executive, Kevin Brennan, who is stepping down for family reasons, has successfully developed the business during his six-year tenure at Ipes and leaves it in a strong position for future growth.
Geraldine Kennell, Partner of Silverfleet Capital and a member of Ipes’ board, commented: “Chris brings a wealth of experience from client servicing businesses to Ipes and this will be extremely valuable as the business expands both organically and through acquisition in key European jurisdictions. The outlook for outsourcing of private equity administration remains positive as funds continue to manage increasing regulatory and investor demands that are costly to provide in-house.”
Chris Merry commented on his appointment: “I am delighted to join Ipes, which has an outstanding reputation for client service in fund administration and is testament to the high quality of its staff. The company has been innovative in developing new outsourcing services for the private equity sector in a fast changing landscape, driven by regulation. One of my first priorities will be to meet our clients and I look forward to steering the business into its next phase of growth.”
Pernille Fabricius, Chairman of Ipes commented: “The Board and I would like to welcome Chris to Ipes and also take this opportunity to thank Kevin for his very valuable contribution to the business over the last six years.”