Silverfleet-backed Ipes appoints Merry as CEO

In his new role, Merry will aim to support the company's continued growth, which will include acquisitions in key European jurisdictions.

Merry replaces current Ipes CEO Kevin Brennan, who is stepping down for family reasons after six years at the firm.

Ipes was established in 1998 and provides fund administration and outsourcing services predominantly to the private equity industry. The business employs more than 160 staff across four European offices in Guernsey, Jersey, London and Luxembourg. Ipes launched its AIFMD-compliant depositary service in July last year and has won more than 20 private equity mandates for this service.

Merry joins from RSM Tenon, where he was CEO. He oversaw the business's stabilisation and sale to Baker Tilly in August last year. 

Prior to joining RSM Tenon in February 2012, Merry was CEO at Matrix Group, the former parent of Mobeus Equity Partners, from 2007 to 2011. Prior to that he was CEO at UK listed executive search firm Whitehead Mann. Before that he spent more than four years as a finance director for international law firm Clifford Chance.

Ipes was acquired by Silverfleet in August last year in a £50m secondary buyout from previous owner RJD Partners. The deal was supported with debt provided by Lloyds Bank and HSBC. The transaction generated a 3x return for RJD, which had acquired the Guernsey-based fund administrator in 2008 from its founder for £25m.

To find out more about Merry's restructure of RSM Tenon, read an interview with him by our sister title Accountancy Age, here.

To find out more about depositary services, read our in-depth analysis here.

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