When Global financial fund administration company Apex Fund Services
announced the opening of its Toronto office just over a year ago, managing director Peter Hughes declared he saw "significant potential for growth" in the Canadian market.
Just last week, Glen Murray, Minister of Training, Colleges and Universities,
announced that as part of the government's efforts to "secure our position as a global financial services hub," the province would invest in the company, helping finance an expansion of its Toronto operations. The expansion, which will lead to 50 new hires in the Apex Yorkville office, will see new or expanded risk reporting and administration services offered by the company to Canadian clients.
Hughes said in the release that Apex was helping to "put Canada firmly on the map as one of the world's fastest growing financial centres."
Canadian managing director Alex Chapman said that Toronto appears ripe for growth, one year after he and his company located here. "As a global company, Apex sees Canada to be a key location for the expansion of its personalized services for fund managers—domestically and internationally."
Parent company Apex Bermuda has 23 offices around the globe administering funds and asset classes over $16-billion.
Writer: Edward Keenan
Sources: Andrew Block, office of the Minister of Economic Development and Trade; Alex Chapman, Managing Director, Canada, Apex Fund Services