News & Alerts

FundBank’s year gets off to a busy start

As a Relationship Manager at FundBank, the start of the year is always one of the busiest times for me. The end of January in Miami has historically always been a great opportunity to connect with clients and meet with prospects, and this year was no exception. Miami followed a full house in New York the week prior at the new FundBank office at 230 Park where we were pleased to have in town our CEO, Colm O’Driscoll together with Laura Accurso and Alison Mitsas from our Cayman team. We also took the opportunity to officially welcome Jim Zurlo, Managing Director, North America Relationships to the team, further demonstrating our commitment to our North American client base. Jim’s main focus will be on providing banking, custody and trade execution services to managers and their managed funds.  From attending the Waystone Summit, to events with SS & C, Grant Thornton and the Schulte conference, it was a great week to connect with the industry.

From MFA Miami, to AIMA Private Credit, and iConnections, our team was present at each of these key events.  This year in Miami saw FundBank act as a sponsor of MFA Miami, and it was there that we hosted the first (and not the last) of our annual Miami Cocktails at the Lowes Hotel on the Monday night, where we were overwhelmed with the number of attendees which approached close to 300. It was a fantastic way to connect with so many of the attendees who joined us fresh from their first full day of the conference.  On behalf of our entire team, for those of you that were able to attend, I hope you enjoyed your time.

The content at MFA this year was extremely strong – with highlights from financial celebrity and keynote speaker, Ken Griffin from Citadel, who spoke only a day after the S&P 500 reached a fresh record high, following on from its strong start to 2024. His insights on the upcoming U.S. elections and how geopolitical events are playing their part in shaping the markets for 2024 were extremely well timed.  His full interview can be viewed here.

What has the industry been saying?

What has been evident during the recent weeks in New York and Miami, has been the resounding feedback from managers, investors and fund service providers on the need for diversification of banking relationships.  In the aftermath of last year’s crisis, the pool of institutional banking providers has reduced prompting an intensified scrutiny on optimizing cash placements and mitigating over-reliance on a single institution.

We’re also hearing a great deal of debate on service levels, onboarding challenges and the protracted timelines for account openings were consistently recurrent.

I was pleased to be able to advise that FundBank’s key point of difference is that it serves only the asset management industry, and our banking model is that of a regulated trust bank, not a commercial one which has proven its strength over the last 18 years.  When we share with our clients and friends that no client funds or assets are held on the balance sheet of FundBank, and no assets are pledged or rehypothecated, this makes a keen impression on them.  Our trust structure reduces the liquidity and duration risk that is a particular concern for many parties within the industry.  FundBank, with its digitized focus, is able to streamline the account opening process for its clients, giving them the ability to open an account in less than five days, should all due diligence requirements be met.

What’s next?

Our teams are now back in Cayman, New York and Austin following a very successful time in Miami and New York.  Jim Zurlo looks forward to attending MFA West at the start of March in Los Angeles and, later in the year, FundBank will be sponsoring GAIM Cayman in April.

If you would like to learn more about FundBank, and the unique banking solutions it can offer, please be sure to reach out to me directly at


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