Opus Fund Services has opened an office in Chicago to concentrate on sales and marketing, back and middle office accounting, and client relationship management.

Stephen Giannone has been appointed as the firm's president and will head the office.

He has previously worked in senior management positions at Bear Stearns and Deutsche Bank and most recently at hedge fund administrators Spectrum and Omnium (formerly Citadel Solutions).

Further additions to the team will be unveiled in the coming weeks.

"We are thrilled to establish our US operations footprint in Chicago and to expand our global management team with proven industry veterans," says chief executive Robin Bedford. "Steve is a trusted friend with over 17 years of experience and industry knowledge. The expansion of our operations footprint into the US is a positive move to support the exciting demand for our services that we are experiencing."

Opus Fund Services was established in 2006 and is a privately owned full service fund administration company providing automated, integrated middle- and back-office and administration services to hedge funds and asset management firms. It is headquartered in Bermuda, and has offices in New York, the UK and the Cayman Islands.