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June 3, 2010

Citco Fund Services Chooses Charlotte
for 258 New Jobs

North Carolina Secretary of Commerce, Keith Crisco, announced today that Citco Fund Services will create 258 new jobs over the next five years and invest $3 million in their new office which will be located in Charlotte’s center city. Citco Fund Services, part of the Citco Group of Companies, is the world’s largest hedge fund administrator. With 16 existing strategic centers globally, the new Charlotte office will mark the company’s most recent growth.

“Citco’s decision to open its first North Carolina office in Charlotte is an important victory for our local economy,” said Bob Morgan, Charlotte Chamber President. “It’s tangible evidence that we remain competitive in the minds of many in the financial industry when considering where to do business. With a highly skilled workforce, a cost of living at 93 percent of the national average, and the eighth largest airport in the country with access to markets all over North America, Charlotte is tough to beat.”

Citco Fund Services not only offers full service hedge fund administration, but they also specialize in private equity fund administration services, real estate investment fund services and funds of hedge fund services.  The Charlotte operation will hire primarily financial services back office positions such as operations analysts, fund accountants, business analysts, and account manager positions.  They will also hire for some supervisory and management positions.  Average salary is expected to be $78,000 per year.

“The strong foundation in the financial services sector and labor pool, combined with the reasonable cost of doing business made Charlotte the easy choice for our expansion into the southeast,” said Jay Peller, Citco Fund Services Managing Director.

Tom O’Brien and Tripp Guin with CB Richard Ellis are representing Citco Fund Services in their real estate transaction yet to be completed.

The Charlotte Chamber would like to thank Governor Beverly Perdue, the North Carolina Department of Commerce, North Carolina Community Colleges, the North Carolina Employment Security Commission, Mecklenburg County, City of Charlotte, the Charlotte Regional Partnership and Charlotte Center City Partners for their assistance and contribution of support to this important project.

The Citco Group of Companies is a worldwide group of independent financial service providers serving the world’s elite hedge funds, private equity and real estate firms, institutional banks, Global 1000 companies and high net worth individuals. Citco companies service these sectors around the world by offering hedge fund administration, custody and fund trading, financial products and corporate and trust planning solutions.

Click here to read the NC Department of Commerce release.

Information on job opportunities at Citco Fund Services office can be found at:
www.citco.com/Careers_Main.jsp

Resumes can be sent to cfsrecruiters@citco.com    Attention:  Sandra Pedroso.

For real estate inquiries:

Robert Gavin
Global Manager Facility Engineering
Citco Fund Services (USA), Inc
201/793-5555
rgavin@citco.com

For all other inquiries:

Charlotte Chamber | 330 South Tryon Street | Charlotte, NC 28202 | 704.378.1300 | www.charlottechamber.com

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