Apex Group launches CMA-regulated operation in Saudi Arabia

“Apex Group offers an end-to-end solution to support local asset managers, foreign funds, and SPVs with services tailored to their individual requirements.”

Apex Group has launched a new office in the Kingdom of Saudi Arabia as part of its expansion efforts in the Middle East, the global financial services provider said.

Currently employing 220 in the Middle East across five office locations, Apex Group secured a license from Saudi’s Capital Market Authority in order to operate Apex Saudi Arabia and better serve its existing Saudi clients and onboard new ones.

“The Kingdom is one of the fastest growing global economies”

Apex Saudi Arabia will provide a full range of innovative financial services and solutions, including managing, advisory, and operating. Based in Riyadh, the Saudi operation will have the largest support team based locally in the Kingdom who are experienced in administering a number of services, such as Islamic funds, private equity funds, venture capital, real-estate and property level accounting, as well as equities, commodity, FX, and derivatives.

Christiane El-Habre, Apex Group Regional Managing Director – Middle East, said: “I’m delighted to announce this milestone in our expansion across the Middle East. The Kingdom is one of the fastest growing global economies, and its stable economic conditions make it an attractive jurisdiction to conduct business. Apex Group offers an end-to-end solution to support local asset managers, foreign funds and SPVs with services tailored to their individual requirements.”

Zafar Ullah Khan, Apex Group Country Head – Kingdom of Saudi Arabia, said: “Saudia Arabia is a fertile ground for innovation and growth. Amid the momentous economic reform and dynamic landscape, Apex Group has found its footing and is in the process of setting up its largest operation in the Middle East.”

Apex Group appoints Ken Fullerton

In other news, Apex Group appointed Ken Fullerton as Global Head of Operational Transformation to oversee the Operational Delivery and Improvement team focusing on client-driven technology and business process initiatives and improvements, as well as the Global Service Centres.

Based in New York, this key strategic role marks yet another milestone in Apex Group’s mission to transform the financial services industry by driving growth with technology and people at its core.

Ken Fullerton joins Apex Group after spending close to 20 years at SS&C GlobeOp, where he most recently served as the Chief Operating Officer of the Fund Administration business and was responsible for all functional areas, from investor services, operations, and fund accounting to client relationship management and technology across the global organization, including the Americas, Europe, and APAC regions.

Ken Fullerton, Global Head of Operational Transformation at Apex Group, said: “I’m thrilled to be a part of Apex Group at a time when they’re driving positive change throughout the industry. We pride ourselves on being a single source solution and the fact that we keep investing in the business from a people and technology perspective demonstrates the global breadth of the offering – which is exactly why I wanted to join the team.”

Christopher Mulhern, Group Product and Operations Officer, Apex Group, said: “We are delighted to welcome Ken to the Apex team. His appointment represents one of the final steps in the restructuring of product/operations that began in January of this year. Establishing a clear focus and mandate on operational improvement sitting alongside business as usual activities is a critical component of the transformation effort and having Ken join to lead this team is a big win for Apex. We look for Ken to lead and drive execution of many technology and business process improvement initiatives that were established in Q1 of 2024.”