Apex Group has launched a new outsourced chief financial officer (CFO) and chief operating officer (COO) solution to asset managers.
The service will be offered through its UK-based subsidiary Throgmorton, and is aimed at asset managers that are facing increasing cost pressures to carry out their CFO and COO functions.
Apex Group stated the team will work in partnership with asset managers to provide a tailored service, headed by a panel of expert and experienced investment management CFOs and COOs, to offer key man risk mitigation as well as flexible support for evolving regulatory requirements.
The launch of the service comes as the roles of the COO and CFO are increasingly becoming blurred with other functions within an investment manager, being required to oversee compliance, technology and human resources.
“We are pleased to announce the launch of our outsourced CFO & COO function which allows clients to significantly reduce the time and financial burden of building an in-house team, enabling them to focus on their core competency of generating returns. We look forward to deploying our team’s extensive expertise across strategies, asset classes and of international regulatory regimes to support our clients throughout their fund’s lifecycle,” said Julie Ferguson, head of CFO & COO Solutions and co-head of compliance solutions, Throgmorton.
The new service follows the recent launch of Throgmorton Compliance Solutions, which delivers tailored services including license applications, regulatory audits, compliance monitoring and technology-enabled management services.
Throgmorton CFO Solutions offers, to both new and established managers, an external resource to navigate the financial components of the business’ strategic plan. Services include the day-to-day management of the finance function, serving as an experienced advisor on financial matters, working collaboratively with the C-suite.
“2020 has been a pivotal year for Throgmorton, as we focused on leveraging our decades of experience of delivering accounting and business services to expand into new markets and products as part of the wider Apex Group. This new product launch, along with our compliance solutions team, further supports our commitment to growing the Group’s single-source solution and we look forward to continued growth in 2021,” added Adam Hewitson, head of Throgmorton.