Global Custodian survey results
Release Date: 08 September 2009
Dublin-based Quintillion has defied the shrinkage of the hedge fund industry with style, not merely adding clients, but collecting high profile mandates from Aspect, Hadron, Laxey Partners and GML. Scores are up in four out of five questions and all but one service area, where an already impressive score merely stood still. Only in risk management—where Quintillion is partially dependent on a third party provider— does a score or comment taste of ordinariness. One measure of the esteem in which the firm is held by its clients is the fact that four out of five of them have responded to the survey. That degree of loyalty owes something to the fact that Quintillion is a majority management and staff-owned company. (It was backed initially by Bear Stearns, whose new owners still own a quarter of the company.) Giving staff a stake has not only attracted talent, but insulated Quintillion from the staff turnover that has plagued Dublin for years. "We like the fact that the employees part-own the business and it makes us a lot less concerned with staff turnover in the future," writes a respondent. Another praises “investment in skilled sector veterans.” The company has also used freedom from corporate control to invest in best-of-breed technology. Quintillion uses top-ranked vendor systems, some of which it has blended with proprietary applications to provide clients with a branded "dashboard" system (QControl) that aims to offer a daily, exception-based and audited processing service. A major fund applauds a "next generation technology platform, using integrated systems, avoiding the need for a paper-based office." In all, the 2009 scores and comments suggest the only obstacle to Quintillion taking the industry by storm is size and profile. "Knowledgeable people using great technology," as a client puts it, is an accurate summary of the firm.