NES Financial, a Silicon Valley FinTech company providing technology-enabled solutions for efficient back- and middle-office administration of complex financial transactions, has hired Michael Richards, formerly of State Street Corporation, as Senior Vice President in charge of Fund Accounting.
Richards joins NES Financial after nearly 18 years at State Street, where he worked in hedge fund and private equity fund administration within the firm’s Alternative Investment Solutions division. There, he was responsible for a large global team servicing top institutional fund sponsors and LP customers, with a broad spectrum of alternative investment product types.
His background in alternative fund administration and financial reporting with leading private equity fund sponsors, will help to inform NES Financial’s approach to complex accounting transactions, automation, financial reporting and investor reporting, and to bolster their rapidly expanding presence in the private equity fund administration space.
“Michael will be a fantastic asset to our growing private equity business,” says Dan Yoder, Executive Vice President and General Manager of NES Financial’s Private Equity Business Unit. “His background of creative management and innovation in the field makes him a perfect fit for our tech-focused and forward-thinking team.”
Richards says: “NES Financial’s next-generation third-party solution is poised to completely revolutionise private equity fund administration,” he said. “Far too often, finance lacks a spirit of entrepreneurism, but not here. They’re doing fascinating things in the space.”
