Middle- and back-office hedge fund administrator OpHedge Investment Services has hired Jack Li as director of P&L and valuations. Li, who has 10 years of management experience in credit derivatives, was most recently a managing director at Bear Stearns, where he was the senior pricing manager responsible for pricing and valuation issues in global credit businesses.
'From OpHedge's establishment, valuation of derivatives and other complex instruments has been a cornerstone of our service offering,' says chief executive Peter Sanchez. 'We take great pride in our modelling and pricing capabilities. Jack's experience and stature is commensurate with the high-quality valuation service for which OpHedge is known.'
Formed in 2005, OpHedge administers USD35bn in assets, providing middle- and back-office solutions to alternative investment managers. In addition to its headquarters in Rye Brook, New York, OpHedge has subsidiaries and offices in Grand Cayman, Shanghai, Singapore and Manhattan.
OpHedge services include trade capturing, trade processing, OTC trade management, daily NAV production, custom daily P&L, collateral management, corporate actions, counterparty reconciliations, treasury activities and generation of customised management reports, fund accounting and shareholder administration.
Last month OpHedge recruited lawyer Scott Gyllensten, previously head of operational risk for the Americas with Royal Bank of Scotland's global banking and markets division, to the newly created position of director of operational risk, following the group's decision to consolidate company-wide operational risk functions.