Alter Domus, one of the largest privately held asset servicers for alternative assets and investors globally, has announced plans to open an office in Vilnius. The company is looking to build a team of 300 people over the next three years to drive its ambitious growth, providing services via their network of local and regional offices.
Founded in 2003 in Luxembourg, Alter Domus provides a comprehensive range of services for organisations investing in alternative assets. The firm specialises in providing fund administration, corporate secretarial, accounting, consolidation, tax and legal compliance, depository, and debt administration services. The company’s proprietary solutions combine leading cloud-based technology with extensive sector specialist and accounting expertise. Alter Domus serves 17 of the 20 largest real estate firms, 16 of the 20 largest private equity houses, and 17 of the 20 largest private debt managers in the world.
To boost its continuous growth, Alter Domus is establishing an additional EMEA Regional Centre in Vilnius, which will employ around 300 people across various roles including fund administration, corporate services and asset servicing specialists, payments and cash management operations, and technology and other Group Central Functions.
“Our Vilnius Regional Centre will play an important role in supporting the company on its ambitious growth trajectory,” says Sandra Legrand, Regional Executive Europe at Alter Domus. “We hope to attract talented professionals by offering a rewarding career path in a growing, global organisation. We are also looking forward to further cooperation with Invest Lithuania, who has been an invaluable partner in our location selection process so far.”
Alter Domus is also looking to forge strategic partnerships with universities and public institutions. The company plans to offer both graduate and internship opportunities to develop and upskill local talent.
Heather Crowley-Kerr, Head of Operations Europe, Alter Domus, said: “Vilnius offers a strong talent pool from which to grow. This includes highly skilled professionals and access to exceptional graduates. The Vilnius business environment and infrastructure are perfectly suited to allow Alter Domus to focus on our clients’ needs and deliver exceptional service. Alter Domus is excited to attract talented professionals with a rewarding career path supported by the development of a sophisticated training academy.”
In Lithuania, Alter Domus will be joining a vibrant community of over 85 investor companies operating Global Business Services (GBS) centres that collectively employ over 20,000 specialists. The Lithuanian GBS sector has been steadily growing in recent years both numerically and in terms of the complexity of functions it provides.
“I am delighted to welcome Alter Domus to Lithuania and our vibrant financial services community. This is an extremely exciting project, and the Ministry of Economy and Innovation is very pleased that our ongoing work in driving competitiveness and providing the right skills base is attracting such leading and innovative companies like Alter Domus. I hope that Alter Domus will become a long term member of the Lithuanian financial services community, and this will inspire other companies from Luxembourg to choose us as their location in Northern Europe”, says Aušrinė Armonaitė, the Minister of Economy and Innovation.
According to Mantas Katinas, Managing Director at Invest Lithuania, Lithuania offers a strong talent pool for financial services companies to support their global growth. “The financial sector is the largest GBS employer in the country for a reason. The availability of well-educated talent, both experienced finance and accounting professionals and quality graduates, makes Lithuania an excellent choice for financial services companies that seek a reliable, results-driven base. I am certain Alter Domus will find that Lithuania is a great platform not only for growth but also for the development of new products and solutions,” he says.
Alter Domus has a worldwide network of nearly 3,000 employees in more than 35 offices across 20 countries. In 2020, Alter Domus recruited almost 800 people globally and targets significant further organic and acquisition-based growth this year. At the start of 2021, Alter Domus achieved a key milestone, reaching over €1 trillion in assets under administration globally.