How long have you worked for Suntera Global and when did you take on your present role?
I have worked for Suntera for 16 years in a variety of roles, primarily in business development or client management. I became Group CEO in June 2019 having led a Management Buy Out of the Group.
How have you strengthened the senior team since becoming CEO?
We inherited a very strong leadership and senior management team in June 2019 who were the foundation upon which the MBO was built. At the outset, it was also very apparent that to build scale and to be able to drive the necessary improvements in the Suntera platform – compliance, corporate governance, HR, technology - there were some capability gaps that we needed to fill. In line with our intent to deepen our capabilities and promote from within, a number of these gaps were filled internally and as a result, we needed to introduce only a small number of key senior roles into the Group. Consequently, we have recruited a new Chief People Officer, Managing Director, Fund Services Division, Head of M&A, Global Head of Compliance, Global Head of IT and a Global Head of Marketing. As we also took the decision to transition our corporate headquarters to Jersey, all but one of these senior people have been sourced in Jersey.
How do you plan to capitalize on the granting of a fund administration licence in Jersey?
As a boutique fund administrator we support start-up to mid-size private, listed and authorised funds across a spectrum of sectors including private equity, real assets, hedge, debt and also the more specialised niche esoteric assets and Jersey is the perfect fit for this. Jersey fund products such as the Jersey Private Fund (JPF) along with the new initiative, ‘Jersey for Good: A Sustainable Future’ strongly aligns with our ESG strategy. Jersey is already structuring investment vehicles for global mangers with environmental, social or governance objectives worth billions of pounds.
Why was Jersey selected for the next phase in Suntera Global’s growth plans in the funds sector and with your leadership team?
Jersey has developed a well-respected and stable funds sector that offers regimes from retail options through to the more sophisticated and institutional end of the market. The island is also a growing hub for fund managers too and the absolute right choice with £365.6 billion value of funds, the equivalent of a 7% increase since last year despite the challenges of COVID. Also, the Jersey Private Funds are proving to be very popular with a 37% annual growth. Generally the island has a reputation globally for being a forward-thinking international finance centre with considerable depth of experience. Its unique position as a Crown Dependency – not part of the European Union nor governed by the UK government but with excellent, long-standing relationships with both – make it an ideal jurisdiction to access EU and non-EU markets.
How has the firm responded to the growing focus within the markets on ESG matters and sustainable investing?
A commitment to high environmental, social and governance (ESG) standards sits at the heart of our culture. Suntera Global is built on a strong foundation of business governance, ethics and responsible practices and our motto is ‘empowering responsible ambition’.
Can you outline the firm’s commitment to its own ESG programme and how this is implemented in practice?
We support global causes such as climate change by limiting pollution and waste within our local environment. Our processes and policies achieve these goals through recycling, limiting paper use and employing responsible digital solutions to reduce our carbon footprint. Ultimately, governance and responsibility are ‘what we do’ as an administrator. It’s an intrinsic part of our role, to carry the load and to be accountable for our actions but also to channel stewardship around managing that responsibility. Arguably, the emphasis in the rapidly evolving ESG space to date has been on the ‘E’, but increasingly we’re seeing recognition amongst clients that the ‘G’ governance – that underpins stewardship, responsible behaviour and integrity – is absolutely critical.
How do you engage and support more than 290 specialist staff in multiple locations around the world?
We work with our staff to create an inclusive and collaborative environment that has been built on transparency and communication and given the
jurisdictionally agnostic service offering that we offer clients through our divisional management structure, all our offices are of the same strategic importance. Although my base is Jersey, I make regular visits to all our offices to meet our staff and to continue to build cultural alignment and to ensure the consistent communication of our goals and aspirations. I also meet with intermediaries and key clients on my travels.
How do you drive the move toward digitization in supporting high quality client service?
It’s vitally important too that as clients’ needs become more global, so the capability to deliver governance frameworks that embrace digital
technologies becomes more critical. The role of the regulator in facilitating digital compliance and governance is largely going to dictate the pace of change and adoption across global markets, but at an industry and business level we are absolutely focused on ensuring we remain at the forefront of digital skills and innovation.
Contact:
/David%20Hudson%20_%20Profile%20(April%202023).jpg?width=204&height=148&name=David%20Hudson%20_%20Profile%20(April%202023).jpg)
David Hudson
GROUP CEO
The Q&A was featured on page 20 of the September 2021 edition of Business Brief, view the article here.
