The international fund administrator, which has more than $20 billion of assets under administration, has set up a Beijing office, adding to its presence in the Asia region.

Custom House Global Fund Services has opened offices in Beijing, hiring relationship managers in the Chinese capital as well as in Shanghai. The office is the third to be opened by the firm in Asia over the past two years.

The hedge fund administration firm has brought in Nancy Wang and Yichen Huang as relationship managers responsible for business development and client collaboration, located in Beijing and Shanghai respectively. They will report to Allen Li, director of the Hong Kong office, it said in a statement yesterday. 

“We particularly see an increase in demand for fully independent fund administration solutions from large financial institutions, PEREs [private equity real estate] and hedge funds in China, and we believe it is necessary to support this growth with local offices to better service our clients,” said Tony Kan, managing director of Custom House Fund Services Hong Kong.

Wang, who has almost 10 years of experience in corporate management, cross border investment structures, accounting and fund formation services, joins from TAKA Corporate Consulting (acquired by VISTRA in 2016), where she was head of sales since 2007, overseeing the North China market.  Prior to TAKA, Wang was a channel sales associate at IBM China Company.

Huang joins Custom House from Citic Prudential, where she was a senior manager responsible for fund accounting of money market funds and REPE funds. Prior to that, she was a senior fund accountant at HSBC Securities Services in Guangzhou and then Hong Kong, where she was responsible for fund accounting for ETFs, Qualified Domestic Institutional Investors (QDIIs), Qualified Foreign Institutional Investors (QFIIs), hedge funds and mutual funds. 

The firm was created in 1989 and has more than $20 billion in assets under administration, serving over 200 managers and 500 funds.