One of the most persistent narratives since the global financial crisis has been the sheer volume of new regulation introduced across the globe. According to one estimate, between 2008 and 2015, there was a 492% increase in global regulatory requirements. Now, a new source of complexity is arising from the fragility of transnational institutions and trade relationships.

Managers based in the EU and managing EU-domiciled funds will be fully subject to GDPR in respect of all personal data they process whether or not it relates to an EU individual. Non-EU funds managed by EU managers will also be subject to GDPR.

At the end of 2017, Citco jumped to US$950bn in assets under administration (AuA), up from US$837bn at the end of 2016. Our growth in AuA is entirely organic, and the result of alternative asset managers trusting us with more of their adminstrative functions.

Three years after the launch of the first Citco Gateway office centre, all four offices – in Amsterdam, Luxembourg, New York and Singapore – are close to 100% occupancy. This shows the value that asset management firms place on flexibility at a time when profitability is under pressure and globalisation is receding. It also reflects a mix of local and international trends.