Stephen Mohan, recently promoted to managing director of UK fund platform Cofunds’ operational services, has introduced an institutional services business aimed at UK discretionary managers and private client stockbrokers. It is intended to streamline processes for dealing and settlements across the funds market. Mr Mohan said: “The problem is that dealing and settlement for investment funds is entirely different from the securities markets. Those responsible for portfolios which contain securities and investment funds have always had substantial operating problems. The increasing use of funds which pay trail commission is now an added complexity.” He believes that discretionary asset managers, private client stockbrokers, insurance companies and self-invested pension plan providers can simplify these difficulties through his company’s new service. Christopher James will report to Mr Mohan as director of institutional services, Hamish Rowan-Hamilton as director of institutional accounts and Anthony Wolfe as business development consultant.