Federated Investors of Pittsburgh is adding a vice president and director of offshore operations that will develop and oversee the firm's offshore back office services, according to O'Connor, O'Connor, Lordi, Ltd. of Pittsburgh, Pa., an executive search firm that is conducting the search.
The position is part of a company strategy to place a greater emphasis on its global and overseas business, according to a spokesperson for the search firm.
The director of offshore operations will oversee and manage all of the firm's fund administration activities and partnerships with third parties, said Anne Cumberledge, a spokesperson for Federated. Those responsibilities include operations, control, custody reconciliation and fund accounting, according to the job description.
In January, Federated introduced six new offshore funds for the German market through a joint partnership with LVM-Versicherungen, a German insurance company based in Frankfurt.