News

IQ-EQ appoints new Senior Managing Director of Accounting & CFO Support Services in North America

Ray Murphy has been named as Senior Managing Director of Accounting & CFO Services in North America. This appointment underscores the ongoing significance of the U.S. market, as well as its outsourced business services practice, to IQ-EQ’s overall growth strategy.

In this newly created role, Ray will be key in driving IQ-EQ’s efforts to grow its outsourced CFO business in the U.S., with a particular focus on private equity clients.

As a chartered accountant and CFA charterholder, Ray has over 20 years of international experience in several large, blue-chip financial services companies. He has served as CEO for a regulated financial institution in Ireland and has extensive expertise in working with a variety of investment manager clients, including boutique firms and large global asset managers, across a range of alternative investment classes.

Ray joins IQ-EQ from a major servicer and manager of institutional assets, where he most recently served as Managing Director of Alternatives (Private Markets), leading global service delivery for many of the company’s largest alternative asset clients. Ray previously served as Vice President for a leading global investment bank in both Dublin and the Cayman Islands.

IQ-EQ first entered the U.S. alternative asset services market in 2020 and began offering outsourced CFO services with the acquisition of Blue River Partners LLC, an industry-leading U.S. provider of outsourced solutions to alternative asset managers. IQ-EQ expanded its bench of outsourced business service offerings with the acquisition of Constellation Advisers LLC and Greyline Partners LLC. Today, IQ-EQ U.S.’ outsourced business services practice is able to support a range of alternative investment management verticals, including private equity, hedge, real estate, infrastructure, private credit and venture capital.

Commenting on his new position, Ray said: “It’s an exciting time to be joining IQ-EQ as the firm continues to expand its business in North America. In the wake of the COVID-19 pandemic, we have seen an upheaval of the traditional ways in which funds and asset managers conduct their business. There’s a greater need now more than ever for outsourced business services, with an ongoing, fierce war for talent, alongside unprecedented staffing and continuity risks for finance, accounting and operations departments. With IQ-EQ’s existing, strong capabilities in this field, I’m certain that the business is well-positioned to further build out its service offerings and meet the industry’s top challenges and needs of the future. I look forward to working with the local U.S. team to best serve the region’s alternative asset market in this regard in years to come.”

Mark Fordyce, Regional CEO, Americas at IQ-EQ, added: “We’re thrilled to welcome Ray to the IQ-EQ U.S. team. At this critical time for the IQ-EQ U.S. business, Ray’s strong leadership credentials and extensive experience in hedge funds and private equity are the exact areas of expertise and qualities we need to help strategically grow our outsourced business services capabilities even further in North America. I know that Ray will make an indelible mark in helping IQ-EQ not only grow in the U.S. but also achieve its objective of becoming the leading global provider of investor services in the years ahead.”

Ray Murphy