Chris Merry will join from professional services provider RSM Tenon, where he was chief executive ahead of its sale to Baker Tilly in 2013.
Merry has over 20 years experience in leadership roles, and has held positions at a range of companies including PricewaterhouseCoopers, Clifford Chance and Whitehead Mann.
He replaces Kevin Brennan, who is stepping down from the role after six years’ due to family reasons. However, Ipes said Brennan left the business in a strong position for future growth.
Ipes, which provides fund administration and outsourcing services to the private equity industry, also said it plans to develop its product range under Merry’s leadership.
His appointment comes after Ipes was backed in August last year by European private equity firm Silverfleet Capital. The £50m buyout marked a period of significant growth for the company.
Geraldine Kennel, an Ipes board member, hinted that Merry would be at the helm of a number of developments for the company. She said he will be "extremely valuable as the business expands both organically and through acquisition in key European jurisdictions".
Ipes said it plans to use “new and complementary services” in the wake of increasing regulation such as Alternative Members Fund Managers Directive (AIFMD), Foreign Account Tax Compliance Act (FATCA) and Dodd-Frank.
Last July, it launched a new depositary service in response to AIFMD regulation and is now the leading provider of depositary services to the private equity community, with over 20 mandates won.
In March, it agreed an international partnership with Standish, a fellow boutique fund service based in the US. At the time, Ipes said the new alliance would give it access to US structures and tax complexities which will be especially important when complying with FATCA and other tax exchange agreements.
Originally founded in 1998, Ipes has more than 100 private equity clients that it looks after from offices in Guernsey, London, Luxembourg and Jersey. It is known for its expertise in closed-ended funds, with a particular speciality in private equity. Prior to announcing its intention to buy Ipes, Silverfleet had been one of its clients for more than a decade.
