LaCrosse Global Fund Services, a provider of operations, middle-office and fund administration services to managers of complex hedge funds, has appointed Diane Cassidy as global head of sales and marketing with responsibility for leading the firm's sales and client relationship management teams.
Cassidy was previously a senior vice-president at DPM Mellon responsible for hedge fund administration sales and client strategy, including leadership of the DPM global client service team.
She began her career in 1980 at Citibank where she was responsible for trading, risk, compliance, product management and sales for the securities lending division. She was also a senior director at ADP responsible for fund administration sales, product development, marketing and branding.
'Diane Cassidy has a strong track record in the alternative investment industry and joins an established team dedicated to an innovative service delivery model and stellar client service,' say co-chief executives Stuart Feffer and Christopher Kundro. 'We look forward to her contributions as we continue to expand our operation globally.'
An independently managed subsidiary of Cargill, LaCrosse was launched as a spinout of the middle- and back-office operations that had supported Black River Asset Management and, before that, Cargill Global Capital Markets. It serves complex funds requiring capabilities in equities, fixed income, foreign exchange, credit instruments, distressed debt, commodities, emerging markets and related derivatives.
Additional services include facilitation of custodian and prime broker confirmation, trade confirmations, over-the-counter derivatives processing, cash and collateral management, administration of onshore and offshore fund entities and independent valuation of hedge fund portfolios. In addition, LaCrosse co-ordinates and negotiates counterparty arrangements and provides other services related to fund startup.
LaCrosse has more than 170 employees in offices in Bogotá, Buenos Aires, Caracas, Istanbul, London, Minneapolis, Moscow, New York, São Paulo and Singapore, and has assets of more than USD8bn under administration encompassing strategies including global equities, fixed income, commodities, currencies, emerging markets and related derivatives.