Belasko appoints Edward Green as CEO

Belasko announces the strengthening of its senior leadership team with the appointment of Edward Green as Chief Executive Officer (“CEO”). This development will see current CEO, Paul Lawrence, transitioning to the newly created position of Group Managing Director.

Edward joins with 19 years of experience within Private Equity, Private Credit and Real Estate and most recently as Partner and Head of Asset Management at AnaCap Financial Partners (“AnaCap”). Edward will now take responsibility for driving the next phase of Belasko’s growth as a digitally enabled administration platform. Moving forward, Edward will base himself in London and divide his time across Belasko’s extensive operations in the four jurisdictions of Guernsey, Jersey, UK and Luxembourg.

Edward’s introduction to Belasko stems back to 2019 when he first met Paul with the pair instantly recognising a unique market opportunity to position a privately owned asset servicing business in Luxembourg, United Kingdom, and the Channel Islands, in a market dominated by private equity backed global businesses, leaving smaller asset businesses under serviced. This market opportunity ultimately led to the acquisition of Belasko by a group of strategically aligned private investors with patient capital support.

Edward Green, CEO at Belasko, commented:
“I am very much looking forward to continuing my working relationship with Belasko, having operated closely with the impressive team since its acquisition by private investors back in 2019. This new role will now enable me to more actively focus my operational skills, developed as both a client and an investor in several fund administration businesses, to drive the business going forward. I look forward to deploying my experience and network avenues to bolster the client proposition and further support the company’s growth trajectory in what is a very exciting time for the rapidly consolidating market as a whole.” 

Paul’s role as Group Managing Director will largely focus on the delivery of first-class client services, operational performance and regulatory compliance across multiple jurisdictions. He has more than 30 years of experience in private wealth, banking and private capital.

Paul Lawrence, Group Managing Director at Belasko, concluded:
We see a significant level of high potential opportunities ahead for Belasko and I am very confident for the firm’s future development across multiple jurisdictions. I look forward to working closely with Edward and the wider senior management team as we look to deliver sustainable growth for the business.”

Edward will also be taking a leadership role in, a technology business for alternative asset managers. This will present synergistic opportunities for working with Belasko clients to provide more holistic technology solutions.

Straight to the point – a Fund Administration Strategy Series Making the break.

The Private Capital market has grown to a booming $10trn of assets and Prequin predict it shall hit $16trn by 2026. Goldman Sachs goes further to say that with the right economic conditions, that figure could be as high as $30trn!

Keeping up with growth of this nature creates many challenges however advancements in technology and processes have enabled administrators to keep pace on a global scale however, the entrepreneurial nature of the Private Capital market continues to challenge business models as it matures.

Complexity exists in every corner.  International structuring, a la carte investor terms, co-invest, multi-currency offerings are just a few of the areas that can quickly break the model.  If we combine this with the global growth in fund administrator operating models and a necessity to standardise service delivery and technology to enable that growth, it’s hardly surprising to see a divergence in client requirements and the service received.  Still, Private Capital Managers are reluctant to change administrative providers fearing the grass is not greener and the process of transfer too complex and risky.

We set out some of the considerations to provide comfort that there is a playbook to navigate through these short-term challenges and to create a long term partnership  that enables your organisation to keep pace with the fast moving requirements of the private capital market.

Be honest about your requirements

Cultural and operational alignment is critical.  Private Capital Managers who need to close new investors, make capital calls, or make new investments frequently, at the last minute, late at night, will stress operating models that do not have the capacity to be flexible and apply adaptive governance.  By making your expectations clear, you can expect less friction in your day-to-day operating model once the resourcing and operating model is designed properly.  Cost considerations should be secondary to defining the right operating model to deliver on your requirements upfront.

Where a tailored service arrangement is required, be sure to test that your administrator can customise delivery to the extent it is needed.

Strategic alignment

Great partnerships require operational stability yet the ability to grow.  A service provider with an aggressive acquisition strategy will have multiple challenges across HR, Technology, and rigid operations risk management.  When managed well, the outcome can create genuine client and shareholder value but as with all projects, there can be waves.  Conversely a partner that does not grow cannot invest and your service may suffer in the long term.   Growth needs to be measured and sustainable to enable a positive client and shareholder dynamic but not at the cost of operational flexibility.  Be clear about the direction of travel of your administrator and seek a partner whose strategy has a positive enduring impact on your operating model.

Planning, communication, and handling complexity

Effective communication between organisations is often overlooked in the planning stage of a fund migration to a new provider.   Expectations are set during the administrator selection process without either party really understanding the requisite level of planning to unpack all the detailed requirements of the Client.  This often leads to a delivery that falls short of the brief and immediately places the relationship under water from a quality and economic standpoint.

Skilled communicators can bridge this gap by ensuring a clear scope of deliverables are properly understood by both parties allowing subject matter experts to provide the technical analysis upfront so that expectations are realistic, can be detailed in a Service level Agreement and costed properly.

Plan for challenges in the short term.  Consider that terminating your incumbent administrator will need delicate management and will likely have a cost to exit.  Your new administrator will be able to balance the equation with a reasonable set of requirements to ensure your data, records and operational knowledge land in good order.


A fund in its mid life will have a considerable data legacy.  Mapping that historic data to a new accounting system is time consuming and will also require cleansing of underlying data to ensure a consistent accounting history.  Experience with data enrichment and transfer tools is critical to ensure that advanced features of the operating model, like a GP or LP portal, may be used reliably from the get go.  Ensure your administrator has a clear understanding of how to achieve a good data transfer and the resources to enable it.

Practical Commercials

Be clear about your pricing objectives and whether they align to your requirements.  Sustainable tailored service solutions do not lend themselves to a low-cost functionalised operating model.

An experienced administration partner will be able to introduce master services agreements that create contractual and pricing simplicity for the inevitable add-ons that are required throughout a funds life.  This will reduce the frequency with which you have to negotiate a fee schedule enabling your teams to focus on delivery.

Working with a provider that values good market conduct ensures that termly pricing review will identify areas of both saving and incremental resourcing that should be met to enable the service model to be resourced properly.   Understand how this review will take place and the information systems that support it.  Strong transparent data will reduce unnecessary negotiation and discontent.

Is it about technology, process, or people?

It’s about delivery… Technology advancement has been rapid in Private Capital and self-service tools such as GP/LP Portals, system integrated workflows, electronic investor onboarding have enabled a reduction of human interference in processing.

However, to my earlier point, if your funds structure and terms are complex, varied and fast moving, then Technology is only part of the solution.  We believe that fund administration remains a people business so retaining, recruiting and developing those people is essential.  But realistically, staff changes happen so it’s imperative to embed knowledge into robust processes to protect your service.

Work with a provider that can help you identify these challenges early in the sales process and can resource accurately around it. 


Our firm view is that through effective planning and with the right expertise, complexity and risk can be managed for a successful transfer.  Finding an administration provider that has a sustainable growth plan without the distractions of wider corporate actions is essential in striking a long-term successful partnership.  In our experience, every Private Capital structure requires a tailored service and technology solution and only a successful combination of the 2 supported by a strong team will deliver to your needs and fully support your strategic objectives.

The Belasko Group –on point tailored service solutions.


Author : Ross Youngs – Group Commercial Director

Ross joined Belasko in 2021 to lead the Groups commercial growth strategy in Private Capital Fund Administration, Corporate Administration and Fiduciary services.

He has over 20 years’ experience in the Offshore Fund and Fiduciary markets holding leadership roles in Alternative Assets, Sales, Relationship Management and Client Service for a global provider.

Working with managers across the UK, US, Europe and Middle East, Ross has helped clients launch fund and investment structures in the Private and Public markets focusing on Private Capital and Real Assets.

Martin Parry

Martin joined in March 2022 to lead and develop Belasko’s UK operations.

Martin has over 30 years’ experience within the financial services industry covering the investment, fiduciary and banking sectors which is closely related to Belasko’s service offering. Throughout his career he has led and participated in several strategic initiatives and has delivered strategic growth and business transformation to drive financial performance and increase shareholder value.

He is a member of the Institute of Chartered Accountants in England & Wales (ICAEW).

Zaneta Ladanovskaja

Zaneta joined Belasko in 2019 to head up the UK office. She is responsible for oversight of all client accounting deliverables, management of client relationships, team development and day to day operations.

Zaneta has over 11 years’ experience in financial and corporate services sectors, where she held a number of accounting and business advisory roles heading up client servicing teams for a number of global fund and corporate services firms. Experienced in accounting for a diverse portfolio of onshore and offshore fund and corporate structures, Zaneta has established and managed multiple client relationships, including leading client migrations, assisting newly established fund managers with debut fund closes and on-boarding of investors. Zaneta is a fellow member of the Association of Chartered Certified Accountants (FCCA), prior to joining Belasko, she worked as Fund Controller for a leading private credit manager, backed by a British multinational financial services and asset management company.

Outside of work, Zaneta enjoys city breaks and often plans these around music tours. She also enjoys exploring the best the UK has to offer with her three dogs.

Nick McHardy

Nick joined Belasko during 2020, is based in London and leads our Fund Administration service offering.

Nick has over 15 years’ experience working with private equity, credit and real estate fund structures and is passionate about delivering excellent client service through the deployment of efficient processes and the effective use of technology. He has led on the transfer of complex fund administration and accounting mandates and in the implementation of ISAE 3402 compliant fund administration operating models.

Nick qualified with PwC and has held a number of board positions for regulated and unregulated fund structures (General Partners & Managers).

Mica Jakins

Mica is an ACCA qualified accountant with 20 years’ experience in financial and commercial roles across various industries.

Prior to relocating to the UK in 2007, she obtained her Bachelors degree in accounting science alongside completing her articles with an audit firm in Stellenbosch, South Africa. Mica joined Belasko in early 2020 as one of the first recruits in the UK business and currently manages the Real Estate division of Belasko UK.

Mica is passionate about nature, cooking, giving back and sport.