Fulcrum Group, a Hamilton, Bermuda-based administrator for the hedge fund and alternative asset management industry, has appointed Jill M.
Fulcrum Group, a Hamilton, Bermuda-based administrator for the hedge fund and alternative asset management industry, has appointed Jill M. Considine, former chairman and chief executive of the Depository Trust & Clearing Corporation in New York, as chairman.
‘Fulcrum is at a turning point in its evolution and is poised for further expansion in existing and new markets,’ says Fulcrum chief executive Akshaya Bhargava. ‘Jill’s leadership and extensive experience as the head of the DTCC during a pivotal time in the securities industry will serve to provide invaluable stewardship as Fulcrum focuses on its strategic initiative of building the gold standard administrative platform for the hedge fund industry.’
Between 1999 and 2006, Considine was in charge of building DTCC into the world’s largest post-trade infrastructure provider for clearing, settlement, and custody of most US securities transactions, overseeing its expansion into the OTC derivatives market and the launch of Omgeo, a joint venture with Thomson Financial.
‘I am impressed by Fulcrum’s focus on straight through processing capability in a complex environment servicing hedge funds, using a very effective combination of technology platforms and rigorous operations discipline,’ said Considine says. ‘Achieving the right balance between technology, process and talent, accompanied by a resilient and scalable infrastructure provide the right ingredients for excellence in customer service.’
Considine has extensive leadership experience in financial services, operations, technology and governance that Fulcrum, which also has operations in New York, believes will play a key role in positioning it as a leader in the hedge fund administration industry.
She was the New York State superintendent of banks from 1985 to 1991, was then managing director, chief administrative officer and a member of the board of American Express Bank, and in 1993 became president of the New York Clearing House Association. Considine recently completed a six-year term as a director of the Federal Reserve Bank of New York where was chairman of the audit and operational risk committee.