A specialist in the consolidated reporting and custody sector has passed a significant assets under administration milestone.

Multrees Investor Services, the independent custody and consolidated reporting specialist for wealth managers and family offices, has reported that its assets under administration in January reached the £8 billion ($11.6 billion) level as it marks its fifth anniversary.

The AuA figure contrasts with an initial £50 million figure when it began in business in February 2011, the firm said. Its UK investment platform offers a multi-currency, multi-asset class on and offshore portfolio management and custody service.

"Multrees has successfully evolved a service model, based upon a leading fintech platform, enabling the provision of innovative solutions to our clients. We also help protect them against the growing concerns of how they should safely and effectively scale their businesses. The team have worked extremely hard over the last five years to reach this point, and are eager to continue revolutionising the way our customers approach partnering with us," said Chris Fisher, chief executive of Multrees.