EXTON, Pa., Nov. 7, 2016 /PRNewswire/ -- STP Investment Services, a collaborative provider of scalable, transparent, middle and back office solutions to fund and investment managers, announced today that it has officially surpassed $100 billion in assets under administration. The milestone comes as the result of STP Investment Services' acquisition of financial software services company, Financial Control Systems Incorporated (FCS) in Chadds Ford, PA, and its partnership with several other national organizations.
The Philadelphia-area firm, founded in 2008 with $2 billion in assets under administration, has grown more than 40 percent each year and employs 60 people globally. Through its acquisition of FCS, and securing several new partnerships, STP Investment Services anticipates growing its team to 75 employees by the end of 2016 and continuing to expand throughout 2017.
Since its founding in 2008, STP Investment Services has provided middle and back office support to institutional managers, wealth managers, plan sponsors, commingled funds and hedge funds across the world. The company has a robust development and support team in Bangalore, India, allowing it to handle global securities and exchanges from any region.
"When I started STP Investment Services in 2008, it was one of the toughest times the industry and our country had ever seen," said Patrick Murray, President and CEO of STP Investment Services. "Eight years later, I'm prouder than ever to be able to work alongside such a talented team and esteemed set of clients and partners every day. This milestone of managing over $100 billion worth of assets under administration is just the beginning for us."
Roger Cerasoli, President of Financial Control Systems Incorporated, stated, "I am greatly satisfied that the excellent and experienced staff of FCS has now joined with STP Investment Services in continuing to forge a greatly respected and successful business enterprise."
To accommodate the rapid-scale growth, STP Investment Services will relocate from Exton, PA, to a larger office in West Chester, PA, this December.
About STP Investment Services
STP Investment Services is a collaborative partner providing scalable, transparent, middle and back office solutions to fund and investment managers, giving them the technology, expertise and confidence needed to focus on core business objectives. In order to decrease operational risk and scale the business rapidly and effectively, investment managers need to focus on people, processes and platforms. STP Investment Services, an international company with fully owned offices in the United States and India, provides a broad range of services for the asset management industry with capabilities to process all asset classes and meet ever-evolving business requirements.
CONTACT: Tyler Cameron
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SOURCE STP Investment Services