New York (HedgeCo.Net) – Deutsche Bank’s fund-administration business has lost a key executive. John Wallace, a managing director who formerly co-headed the alternative fund services group.
Wallace left the bank at the end of February. He spent 23 years at Deutsche, most recently in a role in which he oversaw technology-related projects for hedge funds. Deutsche had $11.6 billion of assets under administration in the first quarter of 2013, ranking 24th among the largest fund administrators, according to Hedge Fund Alert’s Manager Database.
Wallace was among several staffers who left Deutsche’s administration unit in recent weeks. Among them: fund accountant Becky McGinnis, who had been on the job for less than a year. A source said she has accepted a position at an unidentified family office.
Sales professional Ajai Thomas left to become head of investor relations at Hollis Park Partners, a start – up fund operation founded by former Deutsche mortgage-bond trader Troy Dixon. Thomas started in his new role this week.
Editing by Alex Akesson
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