Colin Targett has been appointed managing director of the Bermuda and Cayman Islands offices of global investor services group IQ-EQ.

The company says the strategic new hire follows other senior appointments announced in recent months evidencing the group’s drive to build its funds, private wealth and corporate servicing operations in the region.

Mr Targett has more than two decades of senior experience in the fund services space, the company said. A qualified chartered accountant by academic training, he spent ten years working in Bermuda with a number of organisations, driving forward business growth and leading on all technical aspects of fund valuations, investor relations and regulatory compliance.

More recently, IQ-EQ said, he held the role of head of overseas investment operations with a multinational investment bank where he had overall responsibility for servicing private bank and wealth operations teams globally.

Previous roles include a senior leadership position as director, fund services and latterly as managing director, funds services with a leading administration service provider, the company said.

Kiran Sinharoy, executive director at IQ-EQ, said: “Colin’s extensive industry experience combined with his local knowledge, having lived and worked in Bermuda previously, makes him an excellent choice to head up our growing operations.

“In Bermuda and the Cayman Islands we now have a local team of highly experienced industry practitioners who combine not only the technical knowledge required to service our clients’ needs but also the ability to provide our clients with the superior levels of client service demanded in today’s world. I look forward to working closely with Colin and I am confident he’ll make a hugely positive contribution to the business.”

Mr Targett said: “I am delighted to be part of the IQ-EQ team at this stage in its growth journey and to have been given the opportunity to play a key role in driving our business in this region.

“As the market opportunity in the region continues to grow, I believe that this is the perfect time to build on the work done by the local IQ-EQ team to date and really promote our service offering.”