CINCINNATI, Sept. 08, 2021 (GLOBE NEWSWIRE) — Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions, is pleased to welcome Michael Prendergast as Senior Vice President, ETF Senior Product Specialist, to the firm. He will play a significant role in continuing to build and support Ultimus’ rapidly growing ETF (exchange traded funds) business.
Much of Prendergast’s professional experience has been in senior management roles, in which he led major firms—including JPMorgan Chase Bank, NA and State Street Bank and Trust Company—in managing ETF product, technology, and strategy development. In this new role at Ultimus, Prendergast will provide next-level strategic leadership and support to the firm’s ETF business in critical areas that include product development, operations, and sales.
Ultimus continues to see tremendous demand for its comprehensive service model and customized capabilities in ETF servicing. The firm’s ongoing investment in technology, which includes the uETF application of its proprietary uSUITE platform, automates data flow, enhances transparency, and creates an exception-based environment, all of which enhance ETF sponsors’ ability to manage their products. As a result, since the beginning of 2020, Ultimus has doubled the number of funds it services and has an active pipeline of upcoming fund launches.
Kevin Wolf, EVP, Head of Fund Administration and Product, says that Prendergast is an important resource, who further solidifies Ultimus’ position in the ETF marketplace and enhances the firm’s readiness to meet the growing demand for its ETF solutions. “Mike brings a new level of strategic insight and leadership to Ultimus’ robust ETF capabilities,” he says. “His addition to the Ultimus team enhances our ability to lead in the ETF space with best practices, product solutions, and operational efficiency, and to continue to build and maintain key industry partnerships across the value chain. It all reflects our deep commitment to our client relationships and to providing the best possible ETF solutions to our clients.”
Ultimus CEO Gary Tenkman concurs, adding that the Prendergast hire reflects the firm’s commitment to bringing on top industry talent. “We are pleased to welcome Mike to the team at Ultimus,” he says. “He is a great example of our commitment to excellence and to investing in our ETF solutions. His depth of experience further enhances our institutional strength and expands our capacity to meet our clients’ evolving needs. With his industry connections, Mike will be able to continue to build on and leverage key partnerships that contribute to our clients’ success.”
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.
Headquartered in Cincinnati, Ohio with offices in other major cities such as Chicago, New York and Denver, Ultimus employs more than 700 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,300 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.