Crestbridge, a Jersey-based corporate services provider with a secondary presence in Luxembourg, has won a licence from the Jersey Financial Services Commission to provide management company services to Jersey-based funds.
The formal recognition as a “ManCo” makes Crestbridge one of a relatively small number of companies in the jurisdiction able to handle certain kinds of risk-management oversight, oversee delegation for portfolio management, handle central administration and distribution tasks and related services on behalf of clients, Crestbridge said in a statement announcing its receipt of its JFSC licence.
In a related development, Crestbridge said it had hired Miranda Lansdowne (pictured) to oversee its new ManCo business as a director. Prior to joining Crestbridge, Lansdowne had been managing director of the Luxembourg office of JTC, another corporate services provider.
Crestbridge chief executive Graeme McArthur said Lansdowne’s understanding and knowledge of the Channel Islands and Luxembourg markets, combined with her “global expertise in alternative investment funds” would be invaluable for the company.
In its statement, Crestbridge said it was optimistic that clients – particularly those based in the US and Asia that are interested in accessing the European as well as non-EU markets – would welcome its new service, which it says will enable them to avoid having to establish their own in-house management operations.
Founded in 1998, Crestbridge was known, until 2013, as the Dominion Corporate Group.