Service update: Tracking third party providers

Wells Fargo and Vistra beef up their Asia presence while Vistra appoints a new director of fund services.

• Wells Fargo Global Fund Services has opened an office in Hong Kong. The post will be led by Johnson Har, who joined the firm  in August from Custom House Global Fund Services. Wells Fargo Global Fund Services provides GPs fund administration services, operational support, bank debt processing and cash/collateral management. 

• Also expanding its Asia presence is fund administrator Vistra Fund Services which has opened up an office in Singapore. This is the second Asian office for Vistra, who established its first Asia office in Hong Kong in February.The Singapore office will be jointly managed by Charles Kwun, Andrew Mascall-Robson and Jean-Pierre Koolmees.

• Vistra also announced the appointment of Rob Lucas as director of fund services. Based in Vistra’s Jersey office, he will cover Europe, tackling both business development and operations roles. Prior to joining Vistra Lucas was a director of Northern Trust International Fund Administrators and also head of its real estate and infrastructure funds.

• David Sullivan has been named head of Northern Trust’s  insurance practice in the Americas, replacing Sheldon Woldt, who is now Middle East regional head. Sullivan, a 15 year veteran of Northern Trust, will also continue as head of private equity administration in the US. 

• An update on Palico, which is an online market that matches LPs and GPs for fundraising, secondary and co-investment opportunities: some 750 members have signed up to the platform after a little more than six months in operation.