Bisys Group in Little Falls, N.J., has hired a former banker to spearhead its business development efforts.
Scott F. Moss joined the fund servicing company's New York office last week as a senior vice president. He spent eight years with PNC Bank Corp.'s mutual fund business, leaving last year to work as a financial services consultant.
He succeeds Gary Kocher, who retired from Bisys several months ago.
Mr. Moss will pursue both bank and nonbank clients. Bisys is best known among banks that manage mutual funds; 85% of the $200 billion of assets it administers comes from that source.
As consolidation thins the ranks of banks, the company is going after more nonbanks. David Huber, president of Bisys, said the company is eyeing mutual fund and insurance companies as well as overseas business.
"We're certainly not abandoning the bank marketplace," Mr. Huber said. "Bank funds are still seeing tremendous growth internally." -Niamh Ring