Milestone Group has established a joint venture with South Africa based Global ASP to establish pControl Africa, to deliver technology solutions to the region’s professional investors, including pension funds, asset managers, life companies and third party administrators.
Global ASP provides hosted member administration and asset management solution platforms. Milestone serves investment managers, asset owners, life companies, pension funds and fund administrators.
Establishing pControl Africa will enable Milestone to build on it regional presence, following a period in which it has continued to develop business there. pControl is established as a subsidiary of Milestone, and its aim is to win new business under the leadership of Robert Chung, managing director. The African venture will be fully integrated into Milestone, alongside pControl North America and pControl Europe.
Chung said: “The African marketplace is an incredibly important one. It is also a marketplace with many regional nuances and unique local requirements, hence the importance of the local company presence alongside the ability to leverage global expertise that we have combined in pControl Africa. We think this approach uniquely positions us to provide the increasingly sophisticated African market with the support it needs.”
Paul Roberts, responsible within Milestone for supporting pControl Africa as chairman, said: “We are delighted to be partnering with Global ASP, whose entrepreneurial and innovative nature mirrors our own. We have enjoyed tremendous success in building out our South African business to date, and establishing a ground presence is the natural next step, signalling our commitment to the African market. Through pControl Africa we will deliver significant efficiency gains to the African investment market, and support the growth not just of domestic firms, but also those with an international presence or aspiration.”