Fund Administrator Multifonds Appoints Keith Hale CEO

Hale, who will replace current CEO Oded Weiss, will be tasked with leading the firm's expansion into new markets, as well as increasing asset class and fund structure coverage of its fund administration solutions. Hale was previously executive vice president responsible for client services and business development at the vendor.

Multifonds, which provides fund accounting, portfolio accounting and investor servicing, and transfer agency on a single platform, was acquired by Swiss vendor Temenos in March last year for a sum of €234 million ($261 million).

"The future for Multifonds is very bright, but to seize the opportunity we must continue to innovate in our range of fund servicing solutions and help our clients navigate the triple whammy facing the industry—a rising tide of regulation, continued market uncertainty and an ongoing threat from disruption in the asset management market," said Hale in a statement.