Intertrust has hired Francis Parasis as its global head of business development for private wealth to inspire growth.
A provider of tech-enabled wealth and fund solutions, Intertrust stated the hiring of Parasis matches its strategic direction.
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Parasis has been in wealth management for over 20 years, working at firms such as Citco. Most recently, he was working at IQ-EQ across fund and private wealth management in both hedge and private equity.
Ian Lynch, chief commercial officer at Intertrust, said: “I’m delighted to welcome Francis to Intertrust. Our Private Wealth service line is intrinsic to our future growth and we have great ambitions to develop our existing technology to serve the needs of these clients.”
Parisis added: “I have watched Intertrust evolve in terms of strategy and vision into the technology-led business it is today, providing the next generation of administrative solutions. This has been built on solid foundations to further improve and develop the services to our clients. Intertrust has always been a benchmark for our industry, but it is now leading the field in terms of innovation.
“I look forward to a great future with a fantastic team, building on a very strong legacy and with the creativity and strength of the management team that has made and will continue to make Intertrust a leader of our industry.”
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By GlobalDataIntertrust has made a number of ambitious moves recently. It acquired Viteos, a technology solutions provider for US funds, for $330m in June 2019.
The sellers were PPC Enterprises, FiveW Capital and Viteos management, who bought Viteos in 2017.
Established in 2003, Viteos services hedge funds, private equity, real estate, private debt and other alternative asset managers.
Its staff headcount is around 715.
In addition, Intertrust opened a new office in Shenzhen, China to expand its presence in the country.
The new location marks the firm’s fifth office in China. The other four offices are located in Hong Kong, Shanghai, Beijing and Guangzhou, where the company employs 230 staff.
Through the Shenzhen office, Intertrust intends to serve its Chinese and foreign clients and facilitate cross-border investments.
