A Long Island, N.Y., provider of back-office services to mutual funds is gearing up to help small banks start their own funds.

American Data Services Inc. of Hauppauge said it will oversee registration, marketing, and administration for banks that have sufficient trust assets to convert to mutual funds, said Michael Miola, the company's president and chief executive officer.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.