Francesca McDonagh will take over the reins of Universal Investment Group, the parent company of European Fund Administration, whose offices are in the Gare district. Photos: Universal Investment Group, Christophe Lemaire/Maison Moderne, Montage: Maison Moderne

Francesca McDonagh will take over the reins of Universal Investment Group, the parent company of European Fund Administration, whose offices are in the Gare district. Photos: Universal Investment Group, Christophe Lemaire/Maison Moderne, Montage: Maison Moderne

The internationally expanding fund services outfit Universal Investment has appointed a Credit Suisse executive as its new group CEO.

Francesca McDonagh has been tapped as group CEO of Universal Investment Group, as the Frankfurt-based fund services firm and super manco steps up its focus on “key European fund domiciles” such as Luxembourg and Ireland.

A press release stated: “In her new role, Francesca will focus on driving growth through geographical expansion and M&A and will support Universal Investment as it continues to strengthen its offering to existing and new clients.”

Universal Investment Group the grand duchy’s European Fund Administration and appointed Etienne Rougier as Luxembourg country head . The group bought Dublin-based Metzler Ireland Limited in 2021.

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Universal Investment is majority owned by the private equity firm Montagu, with a minority stake held by the Canada Pension Plan Investment Board. It has around €980bn in assets under management globally, including roughly €294bn in Luxembourg. Its global headcount is approximately 1,700, including more than 500 staff members in the grand duchy.

McDonagh is currently group chief operations officer at Credit Suisse and previously was group CEO at Bank of Ireland. She will take up the new post at Universal Investment on 1 January 2024, the firm said on Tuesday. Interim group CEO David Blumer will remain board chair.

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