Ultimus responds to marketplace expansion by investing in additional experienced resources
CINCINNATI, June 09, 2022 (GLOBE NEWSWIRE) — Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions, is pleased to welcome Sean McLean as Senior Vice President, Retail Alternative Fund Services. In his new role at Ultimus, McLean will lead the fund accounting group that services Ultimus’ retail alternative fund business, which includes interval funds, tender offer funds, and business development companies (BDCs).
McLean brings over twenty-five years of industry experience servicing all types of registered fund clients, including significant experience in servicing clients in the retail alternative funds space which often requires a unique and complex blend of both technology and services.
Bill Tomko, EVP, Head of Fund Servicing, notes the complexities of retail alternative funds. “There are frequently distinctive complexities with alternative fund servicing that requires a flexible and creative service model customized for specific client needs, including integrated technology solutions. Sean’s direct experience in this space and proven leadership will further enhance our current service offering.”
McLean will report to Tomko and also partner alongside the business and product development teams. Gary Harris, EVP, Head of Sales echoes Tomko’s sentiment in welcoming McLean to the firm and reflects on how this hire is a direct investment in servicing alternative funds. “Ultimus continues to experience significant growth in the retail alternative space, and we do not see any slowdown in the demand for these products. Their particular complexities and servicing requirements demand deep knowledge and domain proficiency along with highly integrated technology and processes to effectively launch and support them. We are excited to welcome Sean and his extensive experience and knowledge in this industry, particularly with these retail alternative structures.”
McLean’s new role at Ultimus is in direct response to the continued growth the firm has been experiencing in alternative fund servicing and bolsters its position as an industry leader. Based on a recent whitepaper collaboration with XA Investments, Ultimus’ Nickolaus Darsch, SVP, Business Development, recently published a blog on “Exploring Interval Fund Launch Strategies.” Ultimus is also a member of the Institute for Portfolio Alternatives (IPA) and a Nicsa Alternative Investments Committee participant. Its active involvement in industry groups and forums has contributed to its growth surge.
Furthermore, Gary Tenkman, Ultimus’ CEO, notes how McLean’s hire ultimately reflects a steadfast commitment to investing in resources and accruing seasoned financial professionals to enhance institutional strength. “We are pleased to welcome Sean to the team, and this is another example of Ultimus’ continued investment in our people and maintaining our leadership role in this industry,” he says. “We are dedicated to meeting the evolving needs of our clients and providing leading retail alternative fund service offering. We’re glad to have him on our team and eager to work with him.”
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service tech-enhanced fund administration, accounting, middle office, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.
Headquartered in Cincinnati, Ohio with offices in other major cities such as Chicago, Denver, New York and Boston, Ultimus employs more than 825 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,600 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.