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7th May, London – Link Asset Services has made two senior appointments to its UK funds business. Karl Midl has been appointed as Managing Director of Link Fund Solutions Limited (LFS), while Andrew Lelliott has been appointed as Managing Director of Link Fund Administration Limited & Link Financial Investments Limited. Karl Midl replaces Peter Hugh-Smith, who had held the position of Managing Director of Link Fund Solutions since 2014. Both appointments are subject to FCA approval.

Reporting to Chris Addenbrooke, CEO of Link Fund Solutions, Karl Midl will be responsible for the Authorised Fund Manager (AFM) business which provides independent Authorised Corporate Director, Authorised Contractual Scheme Operator and Authorised Unit Trust Manager services for investment managers who are looking to manage client assets within UK regulated funds. 

Based in London, Karl joined Link Asset Services in 1995 and has held a position on the Board of LFS since 2002. Karl is currently the Board Director responsible for all product, change, and relationship management activities. He has previously held a number of executive roles including Operations Director and Programme Director where he has been instrumental in the operational design of the LFS business, and the selection of major outsourcing arrangements.

Andrew Lelliott, also reporting to Chris Addenbrooke, assumes overall responsibility for UK investor administration services supporting a wide range of fund vehicles, distribution models and investor servicing arrangements for investment managers and asset owners.  This is a strategically key area of the LFS business in the UK, which together with the AFM business, provides market leading and comprehensive complimentary services to the UK funds industry. 

Andrew joined Link Group in 2018 having spent more than 30 years in Financial Services. Holding senior positions within fund manager, transfer agency & trust bank organisations, he has developed broad knowledge and expertise of the funds industry. He is also a longstanding and active participant across fund industry forums and committees, providing leadership to industry wide initiatives and solutions.  

Commenting on the appointments, Chris Addenbrooke, said:
“We are proud to be a leading provider of independent AFM services, and a rapidly growing provider of Investor Administration services to UK regulated funds.  Peter’s departure from the business marks an appropriate point to restructure the executive team to support our ongoing growth strategy.

“Karl and Andrew have both played key roles in helping Link Asset Services achieve significant market share over the last ten years. As our current and future clients continue to evolve in sophistication and scale, Karl and Andrew’s knowledge, vision and leadership will be instrumental in guiding our business – and our clients’ – through future years of growth and opportunity. Their experience and insight will be extremely valuable as we take the next step in our journey.

“I would like to thank Peter for his excellent work over the last five years, most recently helping the business integrate with Link following the acquisition. We wish him well for the future.”