ISLE of Man based fund administration and fiduciary services group Abacus has opened a new office in Malta.
The office is focused on providing Abacus with a platform to develop its business across global markets.
Managing director of the Abacus funds group, Paul Kneen, said: "The Malta office is an integral part of our growth strategy, having offices in the Isle of Man and Malta will allow Abacus to provide a full range of fund administration solutions, from hedge funds to UCITS compliant structures.
"Malta is widely tipped to be the new hotspot for EU fund domicile, supported by its growing reputation as a viable alternative to the more established EU fund jurisdictions of Dublin and Luxembourg."
Abacus has announced the appointment of Mark de Marco as regional general manager at Abacus Fund Administration Limited.
Mark is a fellow of the Maltese Institute of Chartered Accountants and has more than 30 years experience in financial management including fund administration, corporate secretarial administration and financial accounting services.
Mr de Marco said: "I am delighted to have been given the opportunity to head the Maltese operation for Abacus.
"Abacus is a vibrant and dynamic company and the establishment of the Malta office opens a unique and exciting chapter for the growth of Abacus' fund services in the EU.
"I look forward to working with the fund administration team in the Isle of Man to develop and enhance the current service offering.
"Malta offers a wide number of benefits to both funds and their management companies - one of Malta's two official languages is English, it is ideally located as an European domicile, has low cost set-up for new company and fund vehicles and is supported by a proactive regulator in the Malta Financial Services Authority.
"Malta also hosts an advanced telecommunications network and operates an extensive double tax-treaty network, underling its position as a stable jurisdiction from which to conduct international business."
Left to right: Paul Kneen, managing director of Abacus Financial Services Limited and Mark de Marco, regional general manager of Abacus Fund Administration Limited
