Justin Wood has just left his FX Product Management role at State Street after spending two years at the company. In his newest role, he joins Stone Coast Fund Services as a business analyst. The company is specializing in delivering fund administration services to onshore and offshore hedge funds.
Ranking amongst the most trusted fund administration services for hedge funds, the company, which is based in Portland, Maine, and the Cayman Islands, boasts 160 employees.
Fund administration services are a common outsourcing activity for hedge funds globally – the companies are choosing to trust a third party to manage a number of administrative activities associated with holding client funds.
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Such activities might include calculation of net asset value, preparation of quarterly and annual reports to shareholders, SEC filings and reports activities, total returns calculations and others.
Aside from traditional fund administration services, Stone Coast Fund Services also offers a consultancy where money managers and institutions can get an insight into some services that could optimize their operations.
Stone Coast was founded by Marc Keffer, who previously started the fund administration business at Forum Financial Group which he administered for six years before moving on to establish his own venture.