MUFG Fund Services, part of Bermuda-based MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed Tim Thornton as chief operating officer (COO).
The appointment, which was effective from 1st October 2015, follows the promotion of previous COO Ken McCarney to chief executive officer in March 2015.
Thornton will be responsible for strengthening the operational and client focus within MUFG Fund Services’ executive team, enabling McCarney to concentrate on his role leading the strategic growth of the business.
Working across MUFG Fund Services’ London, New York, Dublin and Ontario offices, a key element of Thornton’s new role will include identifying and mentoring the next layer of management to ensure the long term success of the business.
Thornton has held a number of leadership positions over more than 15 years with the firm and will retain his current responsibilities as MUFG Fund Services’ chief data officer, using his experience to expand the firm’s technology focused and data driven approach to fund administration.
McCarney said: “Tim’s appointment as chief operating officer reflects our focus on innovative, data driven fund administration, which is the future of the industry.
“Tim brings with him a wealth of knowledge, and his blend of industry and client experience make him the perfect candidate to drive our operational development. Tim and I have an excellent track record of working together and he will be instrumental in driving the leading technology solutions our clientsneed both now and in the future.”