Apex to hire 500 fund services experts in Johannesburg
Apex Group plans to hire more than 500 new fund services experts in Johannesburg this year in order to better service its growing global client base. Asked if this hiring plan was related to the much-discussed industry challenge of attracting new staff in Luxembourg, an Apex spokesperson said South Africa was seen as an “onshore” hiring opportunity following the acquisitions of Sanne and Maitland in 2022.
CSSF finds AML compliance shortcomings at Maitland
Luxembourg’s financial regulator CSSF has found shortcomings in the application of measures to fight money laundering and terrorism finance at fund services provider Maitland Luxembourg SA and issued a fine of 266,000 euro.
Apex to take over Maitland, expanding geographic reach
Apex Group Ltd continues to add management companies to its group through acquisitions. On Wednesday it said it plans to acquire the fund services and third-party management company business operations of Maitland International Holdings plc, an international fund services provider with a presence in Luxembourg, for an undisclosed amount. The transaction is subject to regulatory approval.