Citco popular among American hedge funds

WILLEMSTAD – Citco is once again the most popular administrator for hedge funds, topping the annual Absolute Return ranking for the fifth consecutive year.
 
The international firm, which has led the survey every year since its inception, further increased its market share to 23.03%, approximately 1.2 percentage points more than last year.
 
Citco has kept its lead by investing aggressively in new products such as Treasury and collateral functions, and news standalone risk management software in the Americas and Europe, said global head of sales Jay Peller. Even among startups, the breadth of what funds are demanding from their administrators is increasing, he said.
 
According to the study, 202 U.S. funds have outsourced their administration to Citco. In total, these parties have a staggering $ 222.3 billion (€ 166.5 billion) under Citco’s management. Absolute Return calculated that Citco holds about 23 percent of the entire market.
 
The number two on the list, International Fund Services / State Street, follows with 14 percent. Citco would not confirm whether the amounts were correct. “We never comment on what others write about us,” said a spokesman.
 
Citco, short for Curaçao International Trust Company, was founded in 1940 by Dutch notary Anton Smeets. He helped Dutch companies during World War 2 to stay out of the hands of the Germans by moving to Curacao. After the war Smeets started focussing succesfully on attracting companies and rich individuals. Son Chris, according to business magazine Quote worth €650 million, took over the business from ’Daddy Ton’ Smeets in 1987.

Aangepaste openingstijden balie Hof van Justitie Curaçao tot nader order

WILLEMSTAD – De balie (Front Office) van de vestiging Curaçao van het Gemeenschappelijk Hof van Justitie zal tot nader order met aangepaste openingstijden werken. Vanwege technische problemen zal de Front Office beperkt open zijn.

Balie Hof van Justitie Curaçao 14 en 15 februari alleen in de ochtend geopend

WILLEMSTAD - De balie (Front Office) van de vestiging Curaçao van het Hof van Justitie heeft donderdag 14 en vrijdag 15 februari in verband met technische problemen gewijzigde openingstijden.

International banks file formal complaint at Central Bank against closure local bank accounts

WILLEMSTAD – In a letter to the Interim President of the Central Bank of Curaçao and St. Maarten, Mrs. Leila Matroos-Lasten, the Association of International Bankers in Curaçao (IBA) files a formal complaint against the closing of local bank accounts of their IBA Members.