FinServ Opens New India Office with Middle & Back Office Outsourcing Offerings
FinServ Expands Global Presence with India Office.
The New Office Enables Better Service to Fund Clients Amid Increased Demand for Support Services & Solutions.
FinServ is pleased to announce the opening of a new office in Mumbai, India. Shaurin Jobalia, who has worked with leading hedge funds and alternate asset management firms globally, will lead a growing team in India, which has more than two decades of collective middle- and back-office experience in fund accounting. The Indian team includes professionals who have previously worked at industry-leading firms such as Enfusion, SS&C Technologies, GlobeOp, Morgan Stanley Fund Services, and Bank of America.
The office will serve funds in a broad range of areas, including:
- Assisting with daily trade positions and cash reconciliations with custodians, prime brokers, and fund administrators.
- Providing break analysis for any issues
- Assisting with corporate actions and swap financing accruals and setup.
- Providing complete shadow NAV with clients’ third-party administrators, including balance sheet and income statement reconciliations.
FinServ’s Managed Services aims to provide fund managers with customizable and scalable solutions to tailor their firms’ operations.
The opening comes at a time when two key trends are converging. First, alternative asset managers are under increased pressure to reduce costs. Fees fell to new lows in 2020 according to Hedge Fund Research, as investors pulled roughly $46 billion from funds. Secondly, COVID-19 has disrupted day-to-day operations and provided a new set of challenges for asset managers in keeping their businesses functioning effectively. A silver lining has emerged, however. The global pandemic has accelerated the use and adoption of remote workers among fund managers. With teams working remotely, managers have leaned on service providers and recognized that they can support operations and technology through outsourcing.
With a team in India, FinServ can meet those requirements and deliver new benefits, such as reduced costs and more flexibility. The FinServ team is unique as they bring systems expertise which allows for detailed analysis and problem solving. In addition, the team is staffed by experienced resources that have a deep understanding of different asset classes. If a fund trades equities, credit or privates, the team brings the appropriate knowledge to assist in the processing. By leveraging the team, funds can efficiently scale their operations by eliminating the need to increase headcount for non-core activities, or job functions. The new India office will support FinServ’s core consulting business across specialized middle and back office managed services, software customization and implementations, industry systems integrations, and bespoke systems development.
At a time when funds are accustomed to receiving what has historically been a commoditized service, FinServ’s team takes it a step further. The teams are well-versed in each client’s unique needs and deliver on those requirements through both a hands-on and customized approach.
To learn more about FinServ Consulting’s services, please contact us at email@example.com or (646) 603-3799.
About FinServ Consulting
FinServ Consulting is an independent experienced provider of business consulting, systems development, and integration services to alternative asset managers, global banks and their service providers. Founded in 2005, FinServ delivers customized world-class business and IT consulting services for the front, middle and back office, providing managers with optimal and first-class operating environments to support all investment styles and future asset growth. The FinServ team brings a wealth of experience from working with the largest and most complex asset management firms and global banks in the world.