Juno Services, a subsidiary of the GSX Group and one of the largest fund administrators in Gibraltar, appointed Frederick Kanyike as its new CEO in June 2019. We caught up with Fred as he reflected on his first month as CEO of Juno Services.
How has your first month as CEO of Juno been? Has it been a warm welcome?
“Yes, it has been a warm welcome. It has been exciting and challenging as I have the opportunity to be part of a group that is shaping the future of the finance industry.”
Are there any new challenges you face working for Juno fund services compared to your previous work for Credit Suisse (Guernsey) Limited as Head of Client Service Management before relocating to Gibraltar?
“There are new challenges, trying to complete the integration of two businesses (Grant Thornton and Vista Fund Services Limited) and operating as part of the wider GSX Group. This represents the consolidation of three primary cultures, as we collectively drive new business and develop the Group further.”
What has been your biggest challenge in Juno?
“Presently, the biggest challenge as the CEO of Juno is firmly establishing the funds’ industry in a jurisdiction un-renowned for funds.”
How have you tried to overcome this challenge?
“An important aspect of overcoming this challenge involves leveraging other parts of GSX Group which adds value to the company, and to have new business based on existing relationships in the group.”
How has it been making the transition to a Group that has Blockchain at its core?
“It has been a hugely informative, but smooth transition so far. The learning curve is the most exciting part of advancing fund administration towards a fintech future.”
How will blockchain benefit fund administration?
“It will benefit fund administration as it will help liquidity which is a critical feature for the space. Blockchain also simplifies the compliance and regulatory aspects of the funds business (in as much as due diligence, KYC, etc). Crucially, it removes unnecessary intermediation. Therefore, the compliance side of fund administration becomes quicker and clearer compared to a conventional nominee set up.”
Where do you see Juno in 5 years?
“Hopefully in five years’ time, Juno will be one of the most recognised worldwide blockchain fund administrators. We have set the ball in motion to make this vision a reality.”
What are your thoughts on the growth of digital asset funds?
“I think the continued ascent of digital asset funds is inevitable, as the current industry is simply unsustainable. Blockchain is more advanced and reduces on-going costs.”
What would you say to someone wanting to incorporate in Gibraltar?
“I would advise prospective companies aiming to incorporate in Gibraltar to seek good legal advice and use a well-established corporate services advisor. Juno fits the bill in this regard, as a locally regulated service provider that is well-connected to the EU and the UK.”
In a few words, can you describe what’s best about Juno?
“The strength of the GSX Group lies in the performance of its subsidiaries. Similarly, the strength of Juno stems from our incredible team of professionals. We are all firmly in tune with the ambition of the GSX Group and bring enthusiasm and energy to work every day. Together, we are committed to directing the future of the finance industry.”