Apex Fund Services has named Bill Salus as chief executive officer with immediate effect.
Salus will take over day-to-day running of Apex from current CEO Peter Hughes, who becomes chairman.
Hughes founded Apex 10 years ago.
Salus, based in the Apex New York office, will have a particular focus on the US market.
As chairman, Hughes will focus on building Apex’s Capital Introductory Service, which helps Apex clients access investor capital. Hughes will also manage Apex’s largest clients as well as concentrate on the company’s growth strategy including acquisitions and targeting large institutional funds.
Salus, who has over 30 years of experience in sales, management and consulting in the investment and financial services industry, was previously managing director and business executive for BNY Mellon’s asset servicing organisation.
Hughes says: “Outsourcing to specialists in the fund servicing sector is growing fast as managers look to keep headcount low and minimise operating costs. In addition, fund administration is playing an increasingly important role in the support of regulatory reporting as well as providing the right infrastructure needed for managers to get significant allocations. These trends are set to continue and going forward, Apex requires the strongest leadership team available to meet these changes. Having managed Apex since its formation I am proud of the global services and solutions Apex provides its clients. It is very satisfying to have set new standards for the fund administration sector and to be recognised as one of the largest independent providers of these services with the largest global footprint.”
Salus also held senior positions at PNC Global Investment Servicing, KeyCorp, Security Pacific Bank and Bank of America. Salus was a member of the ICI International Operations Advisory Committee and the ICI International Committee.
