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GlobeOp Financial Services has appointed Philip Tazza as global head of investor services.
Tazza reports to Vernon Barback, GlobeOp president and chief operating officer, and is based at the company’s Harrison, New York office. He is also a member of GlobeOp’s operating committee.
"Phil will continue to strengthen GlobeOp’s services and initiatives related to the increased transparency, due diligence and performance data our clients’ investors now require," says Barback. "Responding to the market’s evolution, he will also focus on the support we can offer fund managers, both as they serve their existing investors and reach out to potential new investors."
European Union economic affairs and finance ministers have reached agreement on the controversial proposed Directive on Alternative Investment Fund Managers, raising the prospect that the legislation could be finalised by a vote in the European Parliament next month.
The EU ministers found a compromise on the most contentious aspect of the directive, the rules governing access to EU markets for alternative fund managers and investment vehicles based outside the 27-member bloc.
The agreement will allow non-EU mangers and funds to obtain the same pan-European marketing ‘passport’ as their European-based counterparts two years after the directive comes into force, which is
Deloitte’s asset management services practice has launched a global full-service hedge fund emerging manager platform offering a mix of traditional and non-traditional professional services across audit, tax, financial advisory and consulting.
The program represents the latest development in an aggressive two-year build out of the hedge fund practice.
“In today’s environment, emerging managers need recognised industry heavyweights for professional services,” says Cary Stier (pictured), vice chairman and Deloitte’s US asset management services leader. “Deloitte has launched the hedge fund emerging manager platform to provide emerging managers with a solution that offers access to our global network, and customised, creative and
Pierre-Edouard Coiffard has joined Olympia Capital Management as deputy chief investment officer in charge of strategic analysis.
He is based in London and will report to Guido Bolliger, chief investment officer.
Coiffard was previously senior portfolio manager at Altigefi, a subsidiary of Sal. Oppenheim and Deutsche Bank, where he created and managed the Altipro range of funds since 1998.
He previously founded LC & Co, which in turn created Altigefi, in which he was a major shareholder until its sale in late 2007.
Bolliger says: "I am pleased to welcome Pierre-Edouard to the investment team. His 17 years of experience
Jersey’s fund servicing industry rose to 1,688 funds and sub-funds at the end of June 2010 from 1,654 funds a year ago, according to data from Lipper.
Total net assets reached USD232.0bn (GBP155.1bn).
The number of schemes/umbrella funds serviced in Jersey rose by five per cent, from 1,071 to 1,126 schemes.
The largest administrator of funds serviced in Jersey is State Street, with USD76.6bn under administration (GBP51.2bn). Bedell Trust (USD21.5bn) and R&H Fund Services (USD19.8bn) are second and third.
Among professional firms, PricewaterhouseCoopers is the largest auditor (682 funds), ahead of KPMG and Ernst & Young.
Meanwhile, Mourant Ozannes provides
NYSE Liffe, the Europe-based derivatives business of NYSE Euronext, says the rules and trading procedures of the Amsterdam and Brussels derivatives markets have been harmonised after regulatory approval of their respective regulators, the AFM and the CBFA.
This harmonisation is based on the Amsterdam market model. It aims to allow an enhanced access of the Brussels derivatives market for more market participants, like on screen market makers and retail flow providers.
With the introduction of the Prof Trade facility in the Brussels derivatives market, professional market participants are offered a flexible mechanism to trade wholesale size in a regulated environment
Diva Synergy, the event driven investment fund managed by Bernheim Dreyfus, has topped the ranking of the European hedge fund data provider Eurekahedge for performance to end-September 2010.
Exploiting investment opportunities in the fast growing M&A sector, the Diva Synergy Fund Enhanced EUR Class D led the event driven category for year-to-date performance recording gains of 27.11 per cent.
Data taken from Preqin’s latest research report on the institutional market at the tail end of 2010 reveals that there is nearly USD100bn of institutional capital earmarked for hedge fund investment which they have yet to allocate to the asset class.
This capital will come from investors which have recently entered the asset class as well as existing investor’s increasing their allocations to the asset class.
All groups of investors in the Preqin study, except insurance companies, have increased their allocations to hedge funds from 2009-2010. The average increase across all investors is 1.2 per cent of total assets under
InfoHedge Technologies, a provider of IT services and solutions to the alternative investment industry, has been selected by Tradar as an authorised hosting provider for Tradar Insight, a portfolio management system.
The partnership enables Tradar’s client base to have an option of deploying Insight as a hosted ASP based solution via InfoHedge’s managed hosting and Citrix infrastructure.
End users now have an ability to access the application not only from their office PCs but also from any remote computer as well as Apple iPads with the data securely hosted and backed up by the InfoHedge Hosted Platform infrastructure.
"We are
Deutsche Bank’s dbClear platform has cleared on behalf of Citadel one of the first interest rate swaps on CME Group’s IRS platform.
These transactions represent a step forward in the development of OTC clearing services post the passing of the Dodd-Frank Bill.
“We believe that it is vital for our capital markets to be open and transparent,” says Gerald Beeson (pictured), chief operating officer of Citadel. “We are pleased to work together with Deutsche Bank on this initiative to further that objective.”
“This is a strategic milestone in the mitigation of counterparty risk for the industry as a whole, and
