Financial Services Sector in Halifax adds Due Diligence through Castle Hall Alternatives

Mar 22, 2010

Castle Hall Alternatives, the hedge fund industry's leading provider of operational due diligence, is expanding in Halifax with plans to create up to 50 new positions.

The province is supporting the growth with a six-year payroll rebate to a maximum of $1,422,900, through Nova Scotia Business Inc. (NSBI), and up to $150,000 through the Department of Economic and Rural Development, for training.

"Castle Hall offers investors an independent due diligence solution," said Chris Addy, CEO of Castle Hall Alternatives. "In Nova Scotia, we can access an experienced and stable pool of accounting and investment talent to support our ongoing growth."

The company focuses on the operational risk of an investment made by a person or company. It assesses how and where the fund is invested and the risk, helping clients make better investment decisions.

"This is another important investment in jobs and a stronger economy," said Bill Estabrooks, acting Minister for Economic and Rural Development. "We're proud to be investing in a company that sees the importance of training and fostering new graduates and young professionals in our province."

"Castle Hall's expansion builds on the financial services sector by adding diversity and growth," said Stephen Lund, president and CEO of Nova Scotia Business, Inc. "There are few markets where an individual can work for a world leader in due diligence, and Nova Scotia is now one of them."

Nova Scotia is Canada's university capital and produces graduates in accounting, finance and business from countries around the world. It was this talent base, combined with the province's growing reputation as a centre for hedge fund expertise, that attracted Castle Hall.

Castle Hall managing directors Gillian Scott and Lori Barton, both chartered accountants and CFA Chartered Financial Analyst
charterholders, head up Castle Hall in Nova Scotia. Both returned to the province after extensive experience in international finance outside Canada.

Castle Hall Alternatives helps leading institutional investors, fund of funds, family offices and endowments identify and manage hedge fund operational risk. Castle Hall's team draws on more than 30 years of direct due diligence experience and is the industry's largest, dedicated provider of operational due diligence. For more information, visit www.castlehallalternatives.com.

Nova Scotia Business, Inc. is Nova Scotia's private-sector-led business development agency. NSBI is the investment attraction arm of the province and helps businesses meet growth potential through advisory services, trade development, financing and venture capital. For more information, visit www.novascotiabusiness.com/castlehall. 

The Industrial Expansion Fund helps industries with innovation and technology, and contributes to a prosperous and sustainable business climate for Nova Scotia. The fund helps protect jobs and support businesses to be more competitive and sustainable. It provides financial support, such as loans and guarantees, when many traditional sources are reluctant to do so.