In this role, Albrecht will be responsible for heading UI’s Luxembourg platform, which consists of both UI Luxembourg, an AIFM and third-party ManCo in Luxembourg, and fund administrator UI efa. He will oversee total assets under administration (AuA) of about €400 billion across UI’s Luxembourg platform, the firm said in a statement.

Over the past year, the Luxembourg platform saw annual growth of AuA of 33 per cent, driven by increasing demand from asset managers and ManCos for outsourcing services which allow them to focus on their core competencies. Albrecht will be responsible for driving forward UI’s Luxembourg platform to continue to meet this demand, enhancing the product offering – especially for asset managers – and building bridges to continental Europe with active fund distribution support.

Albrecht, a French national based in Luxembourg, has 20 years’ experience in the asset servicing industry. He began his career as an auditor, before moving to what was then RBC Investor & Treasury Services Luxembourg in 2005 (now part of CACEIS). In 2019, he was appointed MD head of Europe client coverage, where he oversaw regional country strategies and cross-continental opportunities, based in Luxembourg.

“His extensive expertise will be an invaluable asset as we continue our journey to become one of the leading fund administrators globally. Achieving this goal is central to our mission, and our Luxembourg platform will play a pivotal role in our strategy,” Francesca McDonagh, CEO of Universal Investment Group, said.

“The Luxembourg platform is well positioned for future growth and I’m excited to help build on its successful growth story. There are compelling growth opportunities in utilising the combined strengths of UI efa and UI Luxembourg to benefit clients,” Albrecht added.

Universal Investment Group is a European fund service platform and Super ManCo. It has around €1,171 billion ($1206 billion) in assets under administration, with locations in Frankfurt, Luxembourg, Dublin, London, Paris, Stockholm, and Krakow.