Asset Services Industry News | NAFAA to close after four years of racing

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The North American Fund Administration Association (NAFAA) is to close after four years.

Established by industry veteran Chris Meader, the association aimed to meet the demands and objectives of investors and distributors while strengthening and improving both the reputation and understanding of the North American industry of the administration of funds.

As the voice of the administration sector, the NAFAA provided a forum where professionals and regulators could share and implement ideas for progression.

Membership of the association included Apex, Ultimus Fund Solutions, Centaur Fund Services, Circle Partners as well as Horseshoe, IPS, Basiz and Sudrania Fund Services, among others.

Speaking exclusively to Asset Servicing Times, Meader said: “Unfortunately, the industry has not embraced the concept of collaboration as far as I thought, although most directors have shown some interest in joining and loved ideas and concepts. But financially, it was not viable to continue. “

Meader started his role as senior vice president at Sudrania Fund Services in January.

He has also held other leadership roles at State Street, SS&C Technologies and JP Morgan.

Commenting on the shutdown of the NAFAA via LinkedIn, Meader said, “I wish you all a Happy New Year and share that I made the difficult decision to shut down the NAFAA. I would first like to thank all of the member companies listed below for their time, effort and commitment to the association over the past four years, as well as all of you who have supported me as well as the concept of a trade association for our industry.

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