Custom House Fund Administration had been on a journey and were now ready to come back again. A recognisable independent business before 2008, Custom House had since been acquired and had become a division of a larger financial services firm, TMF Group.
Looking to unbundle the brand and get back to the core service of fund administration, Mark Hedderman led an MBO in 2015 to take Custom House back to independence. Mark’s objective was to re-establish the Custom House brand, projecting into the future with recognition of its history.
Fund Administration is a required part of the investment fund business where the role of the administrator is to value the assets of the fund and tell the investors how much they are worth. Post financial crisis, Mark believed that there was an opportunity to build trust with global fund managers and their clients with enhanced independent fund administration.