Bank of Bermuda's Dublin Branch To Provide Services To Major Hedge Fund Specialists

Mandy Robinson, Tax-news.com, London

26 January 2001

The Bank of Bermuda's global fund services unit has won the contract to provide its administration fund services to the Tiedemann Investment Group, a US hedge fund specialist with over $1.5 billion currently under management.

Established in 1991, the Dublin office's global fund services manages mutual fund businesses in the International Financial Services Centre. The global funds service includes the administration of institutional funds, hedge funds, private equity funds, retail funds, venture capital groups, financial institutions, international pension schemes and segregated custody accounts.

All 14 of Tiedemann's offshore funds will now be administered by the Bank of Bermuda's Dublin-based subsidiary. 'This transaction marks two significant milestones for our business. Firstly, it is further indication of our role as a major service provider to specialist and emergent investment managers — particularly in the field of alternative and offshore schemes. Secondly, it strengthens our Dublin office as a key player in the phenomenal growth of this major European centre,' said Paul Smith, head of the bank's global fund services.

The Bank of Bermuda has been providing services to the international investment community for nearly fifty years and is widely recognised as a leading international banking and trust group with knowledge and experience in all areas of fund servicing and custody. Dublin is one of the Bank of Bermuda's global network of 14 offshore centres that, states the bank, enables clients to place business in jurisdictions that meet both their needs and those of their investors.

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