Compliance splitting fund-admin market: UBS

Fund services may be a “great business”, says Mark Porter, London-based global head of fund services at UBS, but it is also one with rising costs and squeezed revenues. These pressures are leading to what he says will be a bifurcation among fund administrators worldwide. Some will focus more on fiduciary outsourcing, while others will double down on commoditised processing. He said UBS aspires to be in the first camp. Rising costs are partly due to how the business naturally evo…