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Adveq gains SAS 70 Type II certification

Adveq, a private equity fund of funds investment manager with offices in Beijing, New York, Frankfurt, and Zurich, has passed a SAS 70 Type II examination conducted by PricewaterhouseCoopers.

SAS 70 is an internationally recognised auditing standard which was developed by the American Institute of Certified Public Accountants to provide service organisations with the opportunity to subject their internal controls to an independent examination.

At the beginning of 2009 Adveq passed a SAS 70 Type I examination of the firm’s operational procedures and controls related to its investment management services and operations as of 31 December 2008.

Subsequently, the company entered into SAS 70 Type II examination process which covered the controls related to the firm’s investment management, fund administration, and information technology practices that had been in operation during a six month audit period from 1 June 2009 to 30 November 2009.

Philippe Bucher (pictured), managing director and chief financial officer at Adveq, says: “Adveq strives to provide its clients with high quality service across all of its global operations. The successful completion of a second SAS 70 examination process, performed by PricewaterhouseCoopers, is further evidence of this. We see it as an external recognition of Adveq’s commitment to remaining at the forefront of best practice industry standards.”

Adveq has also appointed Tomas Hricko as head of product management and development and Alexandre de Vaivre as head of client relations Europe.

Hricko has spent most of his career to date in the alternative and quantitative investment unit of UBS Global Asset Management.

Vaivre has been working in high level positions in the equity derivatives and equity financing area at BNP Paribas and Société Générale since 1993.

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