Fund, corporate, and family office solutions provider Altum Group has received authorisation from the Financial Conduct Authority (FCA) to act as an alternative investment fund (AIF) depository and collective investment scheme (CIS) operator.

Altum stated that the approval marked a major milestone in its strategic expansion and commitment to delivering regulated financial services across its operations.

The FCA licenses enable the firm to expand its presence in the UK market, offering "enhanced" solutions to clients while ensuring high standards of compliance and governance.

As part of its expansion, Altum has relocated to larger offices in London’s West End to accommodate the growth of its UK operations.

Altum Group managing director – UK, Simon Drewett, said that the ability to offer AIF depositary and CIS operator services represented a key area of growth for the firm in the UK, and it was seeing “strong demand” from fund managers.

“In conjunction with our European network and Luxembourg ManCo capability, we provide a seamless, one-stop solution fund administration platform that operates across multiple jurisdictions," he continued.

“Our new FCA licences allow us to expand our capabilities in the UK, further strengthening our ability to support clients with best-in-class regulatory and operational expertise.”

Altum chief commercial officer, Stephen McKenna, said that the UK was one of the world’s most important financial markets, and the permissions granted by the FCA demonstrated the firm’s “dedication to providing institutional-grade solutions that meet the evolving needs” of its clients.

Altum chief executive officer, Zena Couppey, added: “Securing FCA authorisation is a major step forward in our strategic vision as a group and these FCA licences allow us to enhance our service offering in the UK.

“We’ve seen the demand and taken proactive measures to expand, building on our already well-established UK presence to continue delivering industry-leading financial and fiduciary services across our entire network of offices.

“We are building a true one-stop-solution with and integrated fund offering for investment managers, combining our expertise in fund administration, depositary, and management company services with cutting-edge technology.

“Our digital-first approach ensures that we deliver seamless, efficient, and scalable solutions to our clients across multiple jurisdictions.”

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