Ultimus Closes Acquisition of Huntington Bancshares’ Fund Servicing Business,
Acquisition Increases Ultimus’ Fund Administration Footprint
CINCINNATI, OHIO – JANUARY 20, 2016 – Ultimus Fund Solutions®, LLC (Ultimus®), a leading provider of services to mutual funds and investment advisers, today announced the close of the acquisition of Huntington Asset Services, Inc (HASI) and Unified Financial Securities, Inc. (Unified) from Huntington Bancshares Incorporated, originally announced November 16, 2015. The deal, which strengthens Ultimus’ leadership role in the mutual fund industry, closed on December 31, 2015. Effective January 1, 2016, the business entity names changed to Ultimus Asset Services, LLC and Unified Financial Securities, LLC, both wholly owned subsidiaries of Ultimus Fund Solutions, LLC.
At the close of the deal, Ultimus grew to 83 mutual fund clients with over 170 funds serviced, more than 140 tenured professionals in three locations, $28 billion in net assets under administration, and more than 275,000 shareholder account relationships.
“We are delighted to close this acquisition and look forward to speaking with all the new clients over the coming weeks. We are committed to providing all new and existing clients with the best in class servicing that has been a hallmark of Ultimus since its founding. We also welcome new passionate professionals to our team as we continue to grow and expand our footprint,” commented Bob Dorsey, Co-Founder and Chief Executive Officer of Ultimus.
Ultimus, based in Cincinnati, Ohio, will open and maintain new offices in Columbus, Ohio and Indianapolis, Indiana, where the new entities currently operate.
In addition to the Ultimus Managers Trust™, the acquisition adds 3 more series trusts for which Ultimus provides fund administration. These series trusts offer additional depth and scale in the series trust platform for Ultimus, as more asset managers seek to leverage the efficiencies and operational benefits of this structure when launching new funds.
About Ultimus Fund Solutions, LLC
Ultimus Fund Solutions provides highly customized and comprehensive middle and back office services to small and mid-sized advisers. Ultimus offers mutual fund organization services, fund administration, fund accounting, transfer agent and distribution services for both open-end and closed-end funds.
Ultimus’ middle office service solution encompasses managing the technology infrastructure and operations required to manufacture the data needed for front office decision support platforms and enabling delivery of comprehensive reporting to advisers, investors, and regulators. Ultimus’ broad range of services are performed by teams of CPAs, attorneys, paralegals and other professionals with a wealth of industry experience.
For more information, visit www.ultimusfundsolutions.com.
